Kathmandu, November 19
A team of impact investors led by professional Dutch cyclist Bram Tankink on Sunday announced a fund of Euro 2 million to promote clean energy in Nepal.
Organising a press meet in Kathmandu today, Tankink announced the establishment of Nepal Renewable Energy (NRE) fund as a result of TANKELECTRIK, an impact cycling challenge inspired by him.
It was informed at the press meet that 19 cyclists and investors from the Netherlands collected Euro 600,000 in the first phase through the first round of TSNKELECTRIKm during which the investors pedalled their cycles from Beshishahar of Lamjung to Jomsom of Mustang from November 11 to 17.
One to Watch, a fund management company that has been working in Nepal for last six years, will manage the funding programme with an technical collaboration with Gham Power, a company working to promote solar energy in the country.
The organisations informed at the press meet that they would begin grid installation in the Manaslu region by February next year as they would increase the fund amount to Euro 1 million by then.