-- Bijaya Man Sherchan --
The existing situation in Nepal, a country very rich in hydropower potentials (84,000 of total potential and 45,000 MW of technically viable potential), demands a very dedicated approach in exploiting this very valuable natural resource. Electricity generated from over 4000 rivers in the country will not only help electrification of the country but also lead to the eventual industrialization of the nation and creation of employment opportunities to the overall population of the country.. Electricity produced in the country can, in addition, be exported to Nepal’s power hungry neighboring countries such as India, Bangaldesh and Pakisthan. Historical data have shown that the cost of building hydropower projects by the GON are usually very much more expensive than hydropower plants built by the private sector companies. With the aim of participating in the energy sector development in Nepal, Pashupati Energy Development Co was established by a group of professionals on 1 January 2009.
The first hydropower projects initiated by the newly formed energy development company were the Tungun-Thosne Hydropwer Project (4.36 MW) and Khani Khola Hydropwer Project (2 MW) in the area of Bhattedanda in South Lalitpur. These two projects were completed and their commercial operation was initiated by the Tungun-Thosne project on 25 October 2016 and by Khani Khola Project on 5 December 2016. Although the projects were designed to be completed with the equity of the initial promoters headed by Pashupati Energy Development Co P Ltd and commercial loan from a consortium of commercial banks, there was a large demand for the involvement of the public sector financing in the project. Hence the IPO of the projects were initiated in two stages: for local public of the project area for 10% of the equity on 17 January 2016 and 20% from the general public on 26 July 2016.
Prior to the implementation of the IPO, the company was converted into a public limited company and named as Khani Khola Hydropwer Co Ltd. Both Pashupati Energy development Co and the Khani Khola Hydropwer Co Ltd are moving further in the development of the energy sector by becoming promoters for the development of the Maya Khola Hydropwer Project (14.9 MW) in Sankhuwasabha District in eastern Nepal. This new project is being developed by a new company called Maya Khola Hydropwer Co with Pashupati Energy Development Co and Khanl Khola hydropower Co Ltd as its equity promoters. In addition Pashupati Energy Development Co and its affiliates are seriously considering entering into the realm of solar energy sector development too.
