Nepal: Tamakoshi V Hydroelectric Project (TV-HEP) (AIIB-000261)

Countries
  • Nepal
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
Government of Nepal
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Hydropower
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 112.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 112.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 165.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ AIIB website

Updated in EWS Jun 23, 2023

Disclosed by Bank Dec 21, 2018


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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank documents, the objective of the Project is to reduce the supply and demand gap by providing additional power to the national grid. The Project would also help stabilize the grid by contributing to meeting the daily peak demand.  The Project would provide benefits to most sectors of the economy and the population in Nepal. The primary beneficiaries would be energy users from residential, agricultural, commercial and industrial sectors, who would experience more reliable supply of electricity and fewer outages.

Tamakoshi V Hydroelectric Project (“TV-HEP” or the “Project”) is a proposed 101 MW run-of-river hydro generation project. It is designed to operate in a cascade scheme with Upper Tamakoshi Hydroelectric Plant (UTK HEP),which is being under construction. The Project is being developed by Tamakoshi Jalvidjyut Company Limited, a project company currently wholly owned by the Nepal Electricity Authority (“NEA”).
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Government of Nepal - USD53 million

AIIB - USD112 million

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Tamakoshi Jalvidjyut Company Limited Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
AIIB
Ms.Jeesun Han
Project Team Leader/Investment Operations Specialist–Energy
Investment Operations Department
Tel: +86 10 8358 0277
Email: jeesun.han@aiib.org

Borrower
Mr. Dil Bahadur Chhetry
Under Secretary Ministry of Finance, Government of Nepal
Tel: +977 1 421 1372
Email: chhetrydb@mof.gov.np
 
Implementation Entity
Mr.Nasib Man Pradhan
Project Manager, Tamakoshi V Hydroelectric Project
NEA/Tamakoshi Jalvidjyut Company Limited
Tel.: +977-1-5111168/69
Email:tamakoshi5@nea.org.np

ACCOUNTABILITY MECHANISM OF AIIB

The AIIB has established the Accountability Mechanism for Project-Affected People (PPM).  The PPM provides “an opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIB’s failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.” Two or more project-affected people can file a complaint.  Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply.  You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html.

The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html.




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