Upper Syange Hydropower Invests Rs. 9.31 Crores in Dobhan Khola Hydropower Project

Upper Syange Hydropower Limited (USHL) has announced that the 24.5 MW Dobhan Khola Hydropower Project, previously studied and developed under its supervision, has been officially transferred to a newly established company, Dobhan Khola Hydropower Limited, following legal and procedural decisions.

According to the resolution passed during the company’s 64th Board of Directors meeting held on Kartik 25, 2082, the project encountered certain legal complexities that made it necessary to develop it under a separate entity. Consequently, during a Special General Meeting on Jestha 7, 2081, the shareholders resolved to establish a new company to oversee and execute the project’s construction.

The transfer process received formal approvals from the Department of Electricity Development on Magh 21, 2081, and from the Electricity Regulatory Commission (ERC) on Shrawan 23, 2081.

In line with these approvals, the Board decided that all expenses incurred by USHL during the study and preliminary development phases of the Dobhan Khola project would be recognized as equity investment in the new company.

As part of this arrangement, USHL will invest in Dobhan Khola Hydropower Limited by purchasing 931,375 shares at a par value of Rs. 100 per share, amounting to a total investment of Rs. 9,31,37,500.

The decision was passed unanimously, marking a strategic step by Upper Syange Hydropower Limited to ensure smooth project execution and compliance with all legal and regulatory frameworks.