Essel-Clean Solu Hydropower Private Limited
Sustainable energy (Environment)
Triodos Green Fund invests in the Essel-Clean Lower Solu project in Nepal. This project entails an 82 MW run-of-the-river hydropower project being developed in the eastern part of Nepal, south of Mount Everest. Triodos has a longstanding relationship with one of the project’s initiators and Global Alliance for Banking on Values member; Clean Energy Development Bank.
Another trusted partner - the Dutch development bank FMO – acts as a lead finance arranger for the project. Financing partners include BIO, DEG, GuarantCo and local Nepalese banks.
Triodos Green Fund participates with USD 6.0m in a long-term senior loan with FMO. Senior investment manager Gerrit-Jan Brunink: “Apart from the technical aspects and impact, this is a great example of cross-department collaboration within TIM; in this case between Emerging Markets and Energy & Climate.”
In impact this investment contributes to the reduction of 352 tons of CO2 emission. Its installed capacity of 82 MW produces 445 GWh per year, providing 3 million people with green power.
Energy is a necessity in modern life but the current dependence on fossil fuels to provide it has a high environmental and social impact. We believe that a fundamental transition is needed away from a carbon based economy to a renewable one. By lending and investing in this sector we try to stimulate this transition, with our main focus on financing solar, wind and hydro energy.