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Vidhyut Utpadan Company Limited: Hydropower Projects in Nepal

Posted by Suman Budhathoki on May 30, 2017 at 6:45 AM

Vidhyut Utpadan Company Limited (VUCL) was formally established on November 20, 2016 following Government of Nepal’s decision. Mr. Mohan Raj Panta has been appointed as the CEO of this company. The authorized capital of VUCL is Rs. 20 billion and its issued capital is Rs. 10 billion, while the paid-up capital is Rs. 2 billion. Out of its total paid-up share capital, 71% is promoters' share and 29% is public share. Its major shareholders and shareholding pattern is as follows. S.N. Shareholders Amount [NPR] % of Total Share Capital 1 Ministry of Energy 400,000,000 20% 2 Ministry of Finance 100,000,000 5% 3 Ministry of Law, Justice and Parliamentary Affairs 100,000,000 5% 4 Nepal Electricity Authority 200,000,000 10% 5 Employees Provident Fund 200,000,000 10% 6 Citizen Investment Trust 100,000,000 5% 7 Jalvidhyut Lagani Tatha Bikas Company Limited 80,000,000 4% 8 Nepal Doorsanchar Company Limited 200,000,000 10% 9 Rastriya Beema Sansthan 40,000,000 2% 10 General Public 340,000,000 17% 11 Project-affected local people* 200,000,000 10% 12 Under-privileged people 40,000,000 2% Total 2,000,000,000 100% *Open to the general public in the main company, structure applicable only for subsidiary projects The Initial Public Offering (IPO) for public subscription of shares is yet to happen. VUCL has applied for Survey License to Department of Electricity Development (DoED) for the following Hydropower Projects on May 19, 2017 with an intention to complete the feasibility studies within 2 years. • Bheri 1 HEP 617 MW • Lower Arun HEP 627 MW • Jagdulla HEP 307 MW • Kimanthan Arun HEP 450 MW

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