Upper Syange Hydropower Transfers Dobhan Khola Project to New Entity
Exciting developments in the hydropower industry! Upper Syange Hydropower Limited (USHL) has officially announced the transfer of the 24.5 MW Dobhan Khola Hydropower Project to a newly formed entity, Dobhan Khola Hydropower Limited. This strategic move follows a series of legal and procedural decisions aimed at streamlining the project’s development.
The decision to transfer the hydropower project stems from complexities identified during the 64th Board of Directors meeting on Kartik 25, 2082. To navigate these challenges effectively, shareholders resolved in a Special General Meeting on Jestha 7, 2081, to establish a separate company specifically for the Dobhan Khola Hydropower Project.
The transfer process received critical approvals from the Department of Electricity Development on Magh 21, 2081, and the Electricity Regulatory Commission (ERC) on Shrawan 23, 2081, paving the way for Dobhan Khola Hydropower Limited to take over.
A key component of the agreement stipulates that all expenses incurred by USHL during the study and preliminary development stages of the Dobhan Khola project will be recognized as equity investment in the new company. This ensures that Upper Syange Hydropower recoups its initial investments and maintains a stake in the project’s success.
As part of this arrangement, USHL will invest Rs. 93,137,500 in Dobhan Khola Hydropower Limited, acquiring 931,375 shares at a par value of Rs. 100 per share. This significant investment underscores Upper Syange Hydropower‘s confidence in the future prospects of the Dobhan Khola Hydropower project and the renewable energy sector. The resolution was passed unanimously, signaling a unified commitment to ensuring the project’s smooth execution while adhering to all legal and regulatory requirements within the energy sector. This marks a crucial step forward for hydropower development in the region. This power generation project aims to provide sustainable electricity to meet growing energy demands. Stay tuned for more updates on this exciting infrastructure project!
