Ankhu Khola Jalvidhyut Investing Rs 1 Billion in 70 MW Dudhkoshi 2

Kathmandu: Ankhu Khola Jalvidhyut Company Limited has decided to invest up to Rs 1 billion in the 70 MW Dudhkoshi 2 (Jaleshwar) Hydroelectric Project.

A meeting of the company's Board of Directors held on Wednesday decided to inject the amount of investment in the 70 MW Dudhkoshi project being developed by Dudhkoshi Hydropower Private Limited.

With the new decision, Ankhu Khola Hydropower reached an in-principle agreement to invest up to Rs 1 billion at face value into the project. The company officially shared this update with stakeholders and the public in compliance with Regulation 22 of the Securities Listing and Trading Rules, 2018.

Ankhukhola Hydropower Company has decided to issue right shares to raise necessary investment amount. The company's board has decided to issue right shares at a 1:1 ratio in relation to its paid-up capital. This move is intended to facilitate investments in projects for which the company has already entered into investment agreements or reached an agreement in principle. The company's current paid-up capital stands at Rs 1 billion.

Following this decision, the company will apply to the Electricity Regulatory Commission seeking prior approval for the issuance of the right shares.

Ankhu Khola is one of the major tributaries of Budhi Gandaki River in Dhading. The catchments area of Ankhu Khola is about 633 square km. The mean annual flow is estimated to be 58.38 cumecs.