IPO News

Upper Solu Hydro Electric Company has submitted an application to SEBON to issue an IPO.

The IPO will be issued in two phases; first to the locals and then to the general public. The hydropower company submitted its application to SEBON on Chaitra 16 this year.

A total of 33,07,500 shares will be issued. NMB Capital is the issue manager for the IPO. The regulatory board SEBON is yet to give its comments on the hydropower company’s application.

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Hydropower or water power (from Greek: ὕδωρ, “water”) is power derived from the energy of falling or fast-running water, which may be harnessed for useful purposes. Since ancient times, hydropower from many kinds of watermills has been used number of times as a renewable energy source for irrigation and the operation of different mechanical devices, such as gristmills, sawmills, textile mills, trip hammers, dock cranes, domestic lifts, and ore mills. A trompe, which produces compressed air from falling water, is sometimes used to power other machinery at a distance.

In the late 19th century, hydropower became a source for generating electricity. Crags ide in Northumberland was the first house powered by hydroelectricity in 1878 and the first commercial hydroelectric power plant was built at Niagara Falls in 1879. In 1881, street lamps in the city of Niagara Falls were powered by hydropower.

Since the early 20th century, the term has been used almost exclusively in conjunction with the modern development of hydroelectric power. International institutions such as the World Bank view hydropower as a means for economic development without adding substantial amounts of carbon to the atmosphere, but dams can have significant negative social and environmental impacts.

USHEC project decided

USHEC Project Handover

Upper Solukhumbu Hydro Electric project has been given to ICTC.

In the year 2009, as an immediate measure to address the impending energy crisis, Government of Nepal through Department of Electricity Development (DoED) forwarded eight projects (varying in capacity from 5 MW to 40 MW) studied by the Government (DoED) including Solu HEP for development by private developers (domestic and international) through a competitive bidding process. After meeting all technical and financial requirements of the bidding process and after bidding the highest amount (NPR 66 million), the joint venture of ICTC Group and Blue Energy secured the license for the development of this project in April 2010 and hence Upper Solu Hydro Electric Company (USHEC) was formed. 

USHEC started construction of the project in February 2015 and completed it in December 2019. Power generation from the project was started and evacuated to Grid from the month of March 2020.

A new Hydropower Project in Nepal

New Hydropower Project Announced

Solu Hydropower Project Hydropower Station (Nepali: सोलु जलविद्युत आयोजना) is a run-of-river hydro-electric plant located in Solukhumbu District of Nepal. The flow from Solu River is used to generate 23.5 MW of electricity.

The plant is owned and developed by Upper Solu Hydroelectric Company Pvt Ltd, an IPP of Nepal. The plant started generating electricity from 2076 to 2012-10BS. The generation license will expire in 2105-12-03 BS, after which the plant will be handed over to the government.  The power station is connected to the national grid and the electricity is sold to Nepal Electricity Authority. The transmission line was delayed causing the water of energy in its initial years.