KATHMANDU: Prabhu Bank has successfully executed the financial closure of the Super Ankhu Khola Hydropower Project with the generation capacity of 24.4 MW.

Employees Provident Fund and Agriculture Development Bank (ADBL) have signed the agreement under the leadership of Prabhu Bank to invest Rs 3.42 billion (75 percent) of the total Rs 4.56 million investment.

The project is promoted by Gorakshya Hydropower Pvt.

Prabhu Bank will invest Rs 1.82 billion, Employees Provident Fund Rs 850 million and Agriculture Development Bank (ADBL) Rs 750 million, while Rs 1.14 billion will be raised by the company through from the founders and the general public.

Chief Business Officer Renu Prasad Pandey on behalf of Prabhu Bank, Chief of Treasury and Investment Branch of Employees Provident Fund Arjun Kumar Gautam, Chief of Credit Branch of ADBL Minraj Pokharel and Managing Director Raghunath Puri of Gorakshya Hydropower Pvt. signed the agreement.