Jhyamolongma Hydropower Development Company Limited has appointed LS Capital as the Securities Issuance and Sales manager. LS Capital will oversee the issuance of 51,00,000 units of ordinary shares at a face value of Rs. 100 per share to local residents of the project affected area, foreign migrants, and the general public.
Mr. Sunil Narayan Shrestha, the Executive Director representing the company, and Mr. Bijay Lal Shrestha, the Chief Executive Officer representing LS Capital, signed a bilateral agreement for the issuance of ordinary shares. This agreement was signed at the corporate office of the company in Kupandol, Lalitpur. Both parties have agreed to move forward with the issuance of the aforementioned ordinary shares in the near future.
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About Jhyamolongma Hydropower Development Company Limited
Jhyamolongma Hydropower Development Company Limited (JHDC) is a public limited company, incorporated on May 18, 2001 as private limited company and later on converted as public limited company on July 3, 2022. It is promoted by individual promoters majorly related to K.C group of companies for setting up of a 32 MW run-of-river, Karuwa Seti Hydropower Project (KSHP) in Ranipauwa-11, Pokhara, Kaski district of Nepal.
The power project is proposed to utilize available head and flow from Seti Khola (river) which originated from Annapurna and Machhapuchre Himal in Nepal. The project has 234 km2 catchment area and 15.30 m3/s design discharge at 41.7% exceedance flow.
The total installed capacity of the plant is 32 MW. JHDC had entered into a long term PPA with NEA as on August 04, 2017 for sale of 32 MW power to be generated from the project on take and pay basis. The contracted Plant Load Factor (PLF) for total 32 MW is 60.34% with total contracted energy of 169.15 MU.
The Power generated from the project is proposed to be evacuated through 10 km long 132KV Transmission Line to NEA Modi-Lekhnath-Lahachowk transmission line at Lahachowk, Kaski district which is operational and which connects further to the national grid.
