Ankhukhola Hydropower will issue 200% right shares, subject to the Electricity Regulatory Commission’s approval of the decision
Ankhukhola Hydropower will issue shares with a 200% right; the Electricity Regulatory Commission must approve the decision.
The Ankhukhola Hydropower Company Limited (AKJCL) wants to provide its stockholder’s shares with 200% rights.
At the Board of Directors meeting of Ankhukhola Hydropower held on Baishakh 15, 2079, it was suggested that 1:2 right shares be issued so that the company could invest at least 60% of its shares in the 20 M.W. Ankhu Khola-2 Hydropower Project of Ganesh Himal Hydropower.
As of right share issuance at a ratio of 1:2, the company’s paid-up capital will be revised to Rs. 1.60 Arba from the current paid-up capital of Rs. 80 Crores equivalent.
Ankhukhola Hydropower’s meeting on Chaitra 23, 2079, had already voted to spend 60% on the aforementioned project.
The firms had exchanged a written investment agreement on Chaitra 24, 2079.
River flow is the basis for the project. The overall head will be 91 meters, and the design flow will be 27.73 cubic meters per second. Electricity generated by the project will total 122.16 GWh per year.
Through the proposed Lapang Substation of the Nepal Electricity Authority, a 5 KM transmission line carrying the produced energy will connect to the national grid.
The company will invest Rs. 96 crores of the total amount of Rs. 1.60 Arba it receives from the legitimate shares in the 20 M.W. Ankhu Khola-2 Hydropower Project of Ganesh Himal Hydropower, using the remaining money to settle loans and other debts owed to banks and other financial institutions.
Keep in mind that the company’s upcoming AGM and the Electricity Regulatory Commission’s permission are required before the correct shares may distribute.