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

Countries
  • Nepal
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
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Government of Nepal
The holder of the loan, grant, or other investment.
Sectors
  • Hydropower
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ AIIB website

Updated in EWS Jan 7, 2019


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Project 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
  • Asian Infrastructure Investment Bank (AIIB)
Private Actors
  • Tamakoshi Jalvidjyut Company Limited -- Implementing Company
Contact Information
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

ACCOUNTABILITY MECHANISM OF AIIB

In addition, the AIIB has a Bank Oversight Mechanism. According to AIIB's policies, "people who believe they have been or are likely to be adversely affected by a failure of the Bank to implement the ESP may also submit complaints to the Bank's oversight mechanism in accordance with the policies and procedures to be established by the Bank for such mechanism." However, at the time of writing, it is unclear what the exact scope and function of this Oversight Mechanism will be.