Overview

• GMR Energy is developing the 600 MW Upper Marsyangdi -2 Hydro Electric Power Project (UMHEP) on the river Marsyangdi in Lamjung and Manang districts of Nepal.

• A Joint Development Agreement (JDA) has been executed with IFC as co-developer with 10% equity rights.

• IFC has the right to act as the lead lender or arranger of debt financing for the project. The power project received environment clearance in December 2012.

• The Directorate General of Foreign Trade of Government of India has already granted a long term license which is valid for 30 years for the import of power from this power project.