Power generation/renewable sources

The Project involves a multi-level engagement and partnership with a consortium of sponsors including the lead sponsor Korea South East Power Company ("KOSEP" or the "Sponsor"), Daelim Industrial Co. Limited ("Daelim"), Kyeryong Construction Industrial Co. Limited ("Kyeryong") and Jade Power Private Limited (Jade or the "Local Sponsor") to support the development, construction and operation of a 216 MW run-of-river hydro power plant on the Trishuli River in Nepal ("UT-1" or the "Project"). A Project Company, Nepal Water & Energy Development Co. Ltd. (NWEDC) was incorporated in Nepal specifically for the purpose of the Project under the laws of Nepal. Through IFC InfraVentures, IFC has been co-developing the Project as a co-developer and shareholder with approximately 15% shareholding since signing of the Joint Development Agreement ("JDA") with the consortium of sponsors in March 2012. IFC is considering providing an A loan of up to US$90 million, a B loan/parallel loan of up to US$320 million, and equity of up to US$27 million (for 15% stake in the Project Company) The Project is expected to be the first large domestic IPP in Nepal with a Project Development Agreement ("PDA")/Power Purchase Agreement ("PPA") and sizable financing provided by international lenders. UT-1 will be built under a 35-year (including construction period) BOOT concession agreement (PDA) with the Government of Nepal ("GoN"). It will be larger than any of the currently operating hydropower plants in Nepal and will sell power under a long-term PPA with Nepal Electricity Authority ("NEA"), the national utility company, for domestic consumption. The Project`s EPC contractors are Daelim (60%) and Kyeryong (40%) through a single wrapped contract provided by Daelim; O&M contractor will be KOSEP; and owner`s engineer role is shared by KOSEP and Jade.

Nepal \ Kathmandu