January 7, 2021 | Investopaper
Synergy Power Development Company Limited (SPDL) is going to invest in a new hydropower project in Hongu Khola of Solukhumbu. The company has passed the proposal from its Annual meeting to invest in the 22 MW Madhya Hongu Khola ‘A’ hydropower project.
SPDL will invest 40 percent of its own capital in the project. Chairman of the company, Indra Bahadur Thapa, informed that the project has already signed a power purchase agreement with the Nepal Electricity Authority (NEA) after obtaining survey permission for power generation.
The general meeting has passed a proposal to distribute 4.75 percent bonus share on the existing paid-up capital of Rs 70 crores and 0.25 percent cash for tax purposes.
Synergy Power Development Company is currently operating a 10 MW Siprin Khola hydropower project in Dolakha.