Nepal | May 29, 2020

Sanjen, Rasuwagadi hydels to issue public shares from April 19

Himalayan News Service
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Kathmandu, April 9

The Ministry of Energy, Water Resources and Irrigation (MoE- WRI) has said that the Sanjen and Rasuwagadi hydropower projects will be issuing shares to the public under the second phase of the government’s flagship programme titled ‘Nepal’s Water, People’s Investment’ from April 19.

The government had included the 42.5-megawatt Sanjen, 14.8MW Upper Sanjen and 111MW Rasuwagadi hydropower projects in the programme on April 2.

The meeting of the programme’s coordination committee then had also decided to issue an extra 15.4 million units of shares for both the projects.

The ministry has said that the Sanjen and Upper Sanjen hydropower projects will issue 5.47 million units and the remaining 9.93 million units be issued by Rasuwagadi hydel project.

Sanjen has completed 70 per cent of construction works, Upper Sanjen has completed 77 per cent and Rasuwagadi has completed 71 per cent of works.

The projects are being developed by subsidiary companies of Nepal Electricity Authority — Rasuwagadi Hydropower Company Ltd and Sanjen Jalavidyut Company Ltd.

Minister for Energy, Water Resources and Irrigation Barsha Man Pun has said that the government’s flagship programme will increase people’s stake in hydropower shares as per the government’s plan to provide hydropower shares to every Nepali.

The government had launched the ‘Nepal’s Water, People’s Investment’ programme on February 13 with an aim to raise Rs 102.3 billion through equity shares from the public to build over 19 hydropower projects.

The programme aims to generate 3,479 megawatts of electricity by investing Rs 698.8 billion in 19 hydropower projects by 2028.

As per the government’s energy plan, the government had earlier issued shares of the 37MW Upper Trishuli III B hydropower project located in Nuwakot district.

“The government has selected the projects whose rate of return is good. It will help the respective projects to collect necessary funds,” Minister Pun stated.

A version of this article appears in print on April 10, 2019 of The Himalayan Times.

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