Ridge Line Energy to Invest Rs 20 Crores in 440 MW Tila-1 Hydropower Project

Ridge Line Energy to Invest Rs 20 Crores in 440 MW Tila-1 Hydropower Project

Ridge Line Energy Limited (RLEL) has announced key investment and asset management decisions following the 118th meeting of its Board of Directors held on Ashadh 3, 2083 BS.

The board approved a plan to invest Rs 20 crore in the promoter shares of SC Power Pvt. Ltd., the developer of the 440 MW Tila-1 Hydropower Project located on the Tila River in Kalikot District. The investment will be financed through proceeds raised from the issuance of rights shares by Ridge Line Energy.

In a separate decision, the board resolved to pledge and restrict the transfer or sale of 15 lakh shares of Kang Hydropower Company Limited, each with a face value of Rs 100, owned by Ridge Line Energy.

The shares, relating to the company promoted by Kang Hydropower Company Limited and located in Lalitpur-1, Kupondole, will be placed under a non-transferable lien at the Central Office of NMB Bank Limited in Kathmandu. The company disclosed both decisions through a regulatory notification.