NMB Capital and Upper Myagdi Hydropower Company Sign Agreement to Raise Funds for Upper Myagdi-I Hydropower Project

NMB Capital Limited and Upper Myagdi Hydropower Company Limited have entered into a Corporate Advisory Service Agreement to secure funding for the Upper Myagdi-I Hydropower Project, which aims to raise equity and attract strategic investors. This project, with a capacity of 53.50 MW, is located in Myagdi District and will harness the Myagdi River's water flow.

Currently under construction, it is expected to be completed within two years, with tunneling already underway. Upper Myagdi Hydropower Company is a special-purpose vehicle of Urja Developers Pvt. Ltd., which is involved in several hydropower and solar projects in the region, including existing plants and ongoing developments like the Middle Mewa HPP and Myagdi Khola HPP.