Tag: Project

  • TPC Proposes 100% Rights Share Issuance for Hydropower Project and Investments

    TPC Proposes 100% Rights Share Issuance for Hydropower Project and Investments


    Terhathum Power Company Limited (TPC) has suggested giving 100% rights shares to its existing shareholders. This decision was taken during a meeting of the Board of Directors on Ashad 12, 2080. The main aim behind issuing these rights shares is to support the progress of the Khorunga Tangmaya Khola hydropower project, which has a capacity of 2 MW. Furthermore, the funds generated from the rights shares will be utilized for investments in other hydropower companies that provide dividends to their investors.

     

  • Iwa Khola Hydropower Project Faces Disruption in Commercial Electricity Production Due to Flood Damage

    Iwa Khola Hydropower Project Faces Disruption in Commercial Electricity Production Due to Flood Damage


    The Iwa Khola Hydropower Project, with a capacity of 9.9 MW and operated by Ridi Power Company Limited (RIDI), is currently facing disruptions in its commercial electricity production. The interruption is a result of damages caused by recent floods in the area.

    RIDI released a press statement informing that both units of the Iwa Khola Hydropower Project have ceased commercial electricity production since Ashad 1st, 2080, due to the flood-induced damages. The floodwaters have caused significant harm to the project’s headworks, headrace pipe, equipment at the powerhouse, and other infrastructure.

    This incident is part of a larger issue affecting several hydropower projects in Nepal. According to the Independent Power Producers’ Association – Nepal (IPPAN), a total of 13 hydropower projects, including the Iwa Khola Hydropower Project, have suffered damages during the floods on Ashad 1st and 2nd. These affected projects collectively have a capacity of 150 MW.

    The damages inflicted by the floods have resulted in a setback for the operation of the Iwa Khola Hydropower Project and other affected projects. Efforts will be required to repair and restore the damaged infrastructure before the resumption of commercial electricity production can take place.

  • Rawa Energy Development Limited IPO Allotment and Project Details

    Rawa Energy Development Limited IPO Allotment and Project Details


    The IPO allotment process of Rawa Energy Development Limited, a hydropower company, has been completed at the premises of Prabhu Capital Limited in Kathmandu. The company issued 6,43,667 units worth Rs. 6.43 crores as an Initial Public Offering (IPO) to the general public between Jestha 18 and 22, 2080.

    Prior to the IPO, 2,80,000 units worth Rs. 2.8 crores were allocated to project-affected locals of Khotang District. However, only 31.2% of the applicants were allotted shares, leaving 192,330 unsubscribed units. These shares were combined with 560,000 units (20% of the issued capital reserved for the general public), resulting in a total of 752,330 units available for the general public.

    Among the 752,330 units, 56,000 units were issued to Nepalese citizens working abroad, 37,616 units were reserved for mutual funds, and 15,047 units were allocated to company employees. The remaining 643,667 units were offered to the general public.

    The IPO received an overwhelming response, with 10,77,740 valid applicants applying for a total of 11,564,590 units, resulting in an oversubscription rate of over 17.96 times. Through a lottery system, 64,366 applicants were allotted 10 units each, while seven lucky applicants received an additional unit. Unfortunately, the remaining 10,13,374 applicants were not allotted any shares.

    Additionally, 37,616 units were allotted to mutual funds, and 15,047 units were allocated to company employees. However, 1,07,466 applicants, who had applied for 14,21,800 units, were disqualified by CASBA members due to reasons such as duplicate applications for the local issue and foreign employment.

    CARE Ratings Nepal Limited (CRNL) has assigned Rawa Energy Development Limited an issuer rating of ‘CARE-NP BB (Is)’, indicating a moderate risk of default in terms of timely financial obligations in Nepal.

    Rawa Energy Development Ltd, initially incorporated as a private limited company on August 16, 2009, and later converted to a public limited company on June 28, 2019, is promoted by experienced individuals in the hydropower and other sectors. They have successfully operated the 3 MW Upper Rawa Khola Small Hydropower Project (URKHP) in Khotang District since September 20, 2020. The project was constructed under the BOOT (Build, Own, Operate, and Transfer) mechanism.

     

  • Liberty Energy Company Limited Reports Net Loss in Q3

    Liberty Energy Company Limited Reports Net Loss in Q3


    Liberty Energy Company Limited (LEC) has released its third-quarter report for the fiscal year 2079/80, revealing a net loss of Rs. 7.99 crores. In the corresponding quarter of the previous fiscal year, the company had incurred a loss of Rs. 1.99 crores.

    The financial expense for LEC amounted to Rs. 14.17 crores, which the company attributed to various force majeure events occurring during the construction period. These events have adversely affected the company’s profitability.

    On the positive side, LEC generated revenue of Rs. 13.11 crores from the sale of electricity. Additionally, the company’s administrative and other operating expenses have significantly decreased by 65.23%, reducing to Rs. 57.05 lakhs up to the third quarter of the current fiscal year.

    LEC maintains a paid-up capital of Rs. 1.50 Arba. However, the company’s financial performance is reflected in its negative earnings per share (EPS) ratio of -5.33 and a below-average net worth per share of Rs. 83.03.

    At the end of the third quarter of FY 2079/2080, the closing price of LEC’s shares stood at Rs. 270.

    The Upper Dordi “A” Hydropower Project, owned by LEC and located in Lamjung district, has been in continuous operation during the third quarter. As per the implementation of Nepal Financial Reporting Standards (NFRS), all overhead costs not directly attributable to the project or its construction have been transferred to the profit or loss account, resulting in a negative EPS. The commercial operation of the project began in Mangsir, 2079.

    LEC has also completed the feasibility study and Initial Environmental Examination (IEE) for other projects, namely the Badigad Khola Hydropower Project (24.6 MW) in Baglung and the Lodo Hydropower Project (1.6 MW) in Lamjung. The company has applied for the generation license at the Department of Electricity Development (DOED) for these projects.

    During the 13th Annual General Meeting (AGM) held on Baisakh 25, 2080, under the leadership of Mr. Kush Kumar Joshi, the chairman of the company, LEC’s proposal to issue 50% of right shares worth Rs. 75 crores to existing shareholders was approved.

  • What Rawa Energy Development Prospective Investors Should Know

    What Rawa Energy Development Prospective Investors Should Know


     

    Rawa Energy Development Ltd is a public limited company that was founded as a private limited company on August 16, 2009 and later converted to a public limited company on June 28, 2019. It is promoted by businesspeople with extensive experience in hydropower and other sectors for the establishment of Hydroelectric Projects (HEP) in Nepal. In Khotang District, the company operates a 3 MW Upper Rawa Khola Small Hydropower Project (URKHP), which has been in commercial operation since September 20, 2020. The project is being built using the BOOT (Build, Own, Operate, and Transfer) model.

  • Modi Energy Allotted Shares to Parbat District Residents; 72.27% of Shares Were Unsubscribed

    Modi Energy Allotted Shares to Parbat District Residents; 72.27% of Shares Were Unsubscribed


     

    Modi Energy Limited has distributed IPO shares to Parbat District residents affected by the project. The allotment program came to an end on Chaitra 19, 2079.

    From the 25th Falgun to the 16th Chaitra, 2079, the company issued 29,00,000 unit IPO shares, representing 10% of the issued capital of Rs. 2.9 Arba, to project-affected residents of Parbat District. Locals could apply for a minimum of 10 shares and a maximum of 1000 shares.

     

  • Last Day to Apply for Ingwa Hydropower’s Locals IPO; Issue Closes Today

    Last Day to Apply for Ingwa Hydropower’s Locals IPO; Issue Closes Today


     

    Ingwa Hydropower Limited is completing the distribution of 6,00,000 units of IPO shares to project-affected locals today, Chaitra 20, 2079. The problem had begun on the 21st of Falgun, 2079.

    The company’s issued capital is Rs. 60 crores, of which 10%, or 6,00,000 unit shares worth Rs. 6 crores, have been allocated to project-affected Taplejung District residents. Meanwhile, 20% of the company’s issued capital, or 12,00,000 unit shares, will be made available to the general public later. This public issue, which closed on the 5th Chaitra, allocated 10% of the shares totaling 120,000 units to Nepalese citizens working abroad.

  • On Chaitra 20, Dolti Power Company distributed IPO shares to project-affected residents of Dailekh District.

    On Chaitra 20, Dolti Power Company distributed IPO shares to project-affected residents of Dailekh District.


    Dolti Power Company Limited has distributed IPO shares to Dailekh District residents affected by the project. The allotment program came to an end on Chaitra 20, 2079.

    The company’s issued capital is Rs. 53.64 crores, of which 10%, or 536,486 unit shares worth Rs. 5.36 crores, were allocated to project-affected Dailekh District residents. Meanwhile, 20% of the company’s issued capital, or 10,72,972 unit shares, will be made available to the general public later. 10% of the shares in this public offering, totaling 107,298 units, were reserved for Nepalese citizens working abroad. The problem had begun on the 8th of Falgun, 2079.

     

  • Today is the last day to apply for a Modification of the Issue of the Day

    Today is the last day to apply for a Modification of the Issue of the Day


    Modi Energy Limited is closing the issue of 29,00,000 units of IPO shares to the project-affected locals today i.e. on 16th Chaitra 2079. The problem had begun on the 25th of Falgun, 2079.

    The company’s issued capital is Rs. 2.9 Arba, of which 10%, or 29,00,000 unit shares worth Rs. 29 crores, have been allocated to project-affected Parbat District residents. Meanwhile, 15% of the company’s issued capital, or 43,50,000 unit shares, will be made available to the general public later. This public issue, which closed on the 9th Chaitra, allocated 10% of the shares totaling 435,000 units to Nepalese citizens working abroad.

     

  • Makar Jitumaya Suri Hydropower Company Allotted IPO Shares to Locals Affected by the Project and Nepalese Working Abroad

    Makar Jitumaya Suri Hydropower Company Allotted IPO Shares to Locals Affected by the Project and Nepalese Working Abroad


    Makar Jitumaya Suri Hydropower Company Limited has distributed IPO shares to project-affected Dolakha District residents and Nepalese citizens working abroad. The allotment program ended on Chaitra 9, 2079.

    The company’s issued capital is Rs. 76 crores, of which 10%, or 7,60,000 unit shares worth Rs. 7.6 crores, were allocated to project-affected Dolakha District residents (Locals of Gaurisankhar gaupalika and Bigu gaupalika). Meanwhile, 20% of the company’s issued capital, or 15,20,000 unit shares, will be made available to the general public later. 10% of the shares in this public offering, totaling 152,000 units, were reserved for Nepalese citizens working abroad. The issue had begun on the 15th of Magh, 2079.

     

  • Modi Energy IPO closes today for Nepalese working abroad.

    Modi Energy IPO closes today for Nepalese working abroad.


    Modi Energy Limited is closing its IPO issue to Nepalese citizens working abroad today, 9th Chaitra, and has extended the IPO issue deadline for project-affected locals until 16th Chaitra, 2079. The problem had begun on the 25th of Falgun, 2079.

    The company’s issued capital is Rs. 2.9 Arba, of which 10%, or 29,00,000 unit shares worth Rs. 29 crores, have been distributed to project-affected Parbat District residents. Meanwhile, 15% of the company’s outstanding capital, or 43,50,000 unit shares, will be made available to the general public later. This public offering, which will conclude today, has reserved 10% of the shares totalling 435,000 units for Nepali people working overseas.

  • The Mai Khola Hydropower IPO is now closed for Nepalese working abroad and project-affected Ilam District residents.

    The Mai Khola Hydropower IPO is now closed for Nepalese working abroad and project-affected Ilam District residents.


    From today, 9th Chaitra, 2079, Mai Khola Hydropower Limited will close the issue of its IPO to Nepalese citizens working abroad and project-affected locals of Ilam District. The problem had begun on the 25th of Falgun, 2079.

    The company’s issued capital is Rs. 39.21 crores, of which 10%, or 392,157 unit shares worth Rs. 3.92 crores, have been allocated to project-affected locals in the Ilam District. Meanwhile, 39% of the company’s issued capital, or 15,29,411 unit shares, will be made available to the general public later. This public issue, which will close today, has allocated 10% of the shares totaling 152,941 units to Nepalese citizens working abr