Ankhukhola Hydropower Company Limited (AKJCL) has proposed to issue 200% rights shares to its shareholders. The company aims to invest 60% of the newly raised capital in the Ganesh Himal Hydropower’s 20 M.W- Ankhu Khola-2 Hydropower project. This decision was made during a board of directors meeting held on Baishakh 15, 2079.
After the issuance of right shares at a ratio of 1:2, AKJCL’s paid-up capital will increase from Rs. 80 crores to Rs. 1.60 Arba. On Chaitra 23, 2079, a meeting was held where it was decided to invest 60% in the Ankhu Khola-2 Hydropower project. The investment agreement between the two companies was signed on Chaitra 24, 2079.
The Ankhu Khola-2 Hydropower project is designed to generate 122.16 GWh of electricity annually, based on a river flow rate of 27.73 cubic meters per second and a total head of 91 meters. The electricity produced will be transmitted to the national grid through a 5 km transmission line via the Nepal Electricity Authority’s proposed Lapang Substation.
AKJCL plans to invest the Rs. 96 crores received from legitimate shares in the Ganesh Himal Hydropower project. The remaining funds will be used to pay off loans and other obligations owed to banks and other financial organizations. However, the issuance of right shares will only occur after approval from the Electricity Regulatory Commission and endorsement by the company’s upcoming AGM.
