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Everest Hydro procures promoter shares of Budhi Gandaki A and B

Setopati

Setopati

Kathmandu, Dec 16

Everest Hydro Holding Company Limited has procured promoter shares of Budhi Gandaki A and B hydropower projects from Indian promoters.
Everest, a joint venture of Nepali entrepreneurs and a few foreign investors, has procured 95 percent shares of Budhi Gandaki A (130 MW) and Budhi Gandaki B (260MW) from Naulo Nepal Hydroelectric Pvt Ltd, according to share details submitted to the Office of Company Registrar.
Energy Resources Mumbai under Patel Engineering Company of India had invested in Naulo Nepal. The company had acquired license to generate energy and export to India but the projects were stuck for a long time.
Both the projects are semi-reservoir types to be developed to balance energy generation even during the winter when generation of run-of-river projects falls substantially.

Published Date: 2021-12-16 21:56:00

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