US headquartered global investment bank InvestBank Corp has acquired a 70% equity stake in two hydropower projects in Nepal with a combined capacity of 860MW.

The bank is working in cooperation with S.C. Power Company Pvt. Ltd. to develop the 440MW Tila-1 and 420MW Tila-2 projects, which will be located on the Tila River in the Kalikot district of the Karnali zone in the far-western development region of Nepal.

Electricity from the projects will be purchased by the Nepal Electricity Authority and India’s KSK Energy Ventures Limited.