Thulo Khola Hydropower Limited has successfully organized its second Annual General Meeting (AGM) at Kalimati Banquet, Kathmandu, chaired by Narendra Ballabh Pant.
Highlights of the Meeting
- IPO Approval:
Shareholders gave the green light for the company to issue 1.1 million shares through an Initial Public Offering (IPO). - Board Updates:
- Dhiraj Karki, a promising energy entrepreneur, was elected as a new member of the board.
- Financial and Operational Endorsements:
- The meeting approved the FY 2080/81 annual report and the audited financial statements.
- An auditor was appointed for the fiscal year 2081/82.
- The shareholders endorsed key board decisions.
- Other Key Decisions:
- Board members’ allowances were finalized.
- The board was granted permission to identify and invest in potential new projects.
- Amendments to the company’s memorandum and articles of association were ratified.
Project Progress
The company is currently developing the 22.5 MW Upper Thulo Khola A Hydropower Project in Raghu Ganga Rural Municipality-8, Myagdi District. According to Chairman Pant, the project is on track for completion by Baisakh in 2082.
This AGM highlighted the company’s progress and its strategic focus on contributing to Nepal’s renewable energy development.
About Company:
Thulo Khola Hydropower Limited is constructing the 22.5 MW Mathillo Thulo Khola-A Hydropower Project in Myagdi, Nepal. Electricity from the project will be transmitted via a 132KV, 27-km transmission line to the Dana Substation. With 70% of construction completed, including a 2,700-meter tunnel and ongoing work on the penstock pipe and shafts, the project is set to start electricity generation within eight months. The power will be supplied to the Tiple Rahughat Substation of the Nepal Electricity Authority, with a Commercial Operation Date targeted for October 14, 2025.