Global IME Bank and Prime Power Limited have signed a credit facility agreement to develop a solar power project. The agreement was signed by
Global IME Bank’s CEO Surendra Raj Regmi and Prime Power Limited’s President Ashish Garg signed the agreement amid a function on Monday.
As per the agreement, Global IME Bank will finance the 30-megawatt Kapilvastu Solar Power Project in Kapilvastu district.
Garg stated that Prime Power has already secured an agreement with the Nepal Electricity Authority to sell the electricity generated by the project. The electricity will be connected to the national grid via substations in Chanauta, Kapilvastu. This project is among the highest-capacity solar initiatives in Nepal.
Global IME Bank highlighted that renewable and green energy production is a key focus of its investment strategy. -- RSS