Hydropower Pioneer Guru Prasad Neupane Challenges Court Decision, Propelling Nepal's Energy Sector Debate

Guru Prasad Neupane, a prominent figure in Nepal's hydropower sector, is contesting a decision made by the special court on 2nd Baishakh, 2081, which fined him 75,000 rupees and banned him from serving as a director of a Public Limited Company for 10 years. The case was initiated in Kathmandu District Court based on allegations of insider trading, although the facts remain unconfirmed. Subsequently, a case related to wealth laundering has been filed in the special court, marking the first such legal proceedings in Nepal.

Neupane's journey in the hydropower sector began in 2054 when he established Arun Valley Hydropower Development Company Private Limited after retiring from various financial institutions, including Nepal Rastra Bank. Despite challenges in accessing capital from banks and financial institutions and a lack of expertise in hydropower within government agencies, Neupane successfully pioneered the construction of the 3-megawatt Piluwa Khola hydroelectric project in Sankhuwasabha district. This project, completed in 2060, demonstrated the feasibility of large-scale projects without foreign investment.

Neupane continued his entrepreneurial journey by leading the construction of 14 hydropower and solar power projects, including the 2.4 MW Ridi Khola hydropower project in the Gulmi district. He earned the trust of various banks and financial institutions due to his successful track record, with ongoing projects totaling 121.2 megawatts.

Despite legal challenges, Neupane remains committed to advancing renewable energy initiatives, including research and investment in green hydrogen, a first in Nepal. The outcome of the Supreme Court decision is eagerly awaited, with implications for stakeholders across Nepal's energy sector. Neupane's dedication and the support of shareholders underscore the importance of ensuring justice and preserving confidence in the country's power development efforts.