Ridge Line Energy to Invest Rs 200 Million in 440 MW Tila-1 Hydropower Project
Ridge Line Energy Limited has decided to invest Rs 200 million in the under-construction 440 MW Tila-1 Hydropower Project in Kalikot.
Ridge Line Energy Limited has announced plans to expand its investment in Nepal’s hydropower sector by investing Rs 200 million in the 440 MW Tila-1 Hydropower Project located in Kalikot district.
The company’s board meeting held on Ashadh 3 approved the investment proposal in the project promoted by SP Power Pvt. Ltd.
According to Ridge Line Energy, the investment will be made through funds collected from its right share issuance, which will be used to purchase reserve shares of SP Power Pvt. Ltd.
The Tila-1 Hydropower Project is one of the major energy projects being developed in the Karnali region. With a capacity of 440 MW, the project is expected to contribute significantly to Nepal’s electricity generation capacity once it comes into operation.
In another decision, Ridge Line Energy has also decided to place its ownership stake in Kang Hydropower Company Limited under restriction.
The company will keep 1.5 million shares of Kang Hydropower, each with a face value of Rs 100, pledged at the central office of NMB Bank Limited in Kathmandu.
The restricted shares cannot be sold or transferred during the lock-in period, according to the company.
The latest investment decision indicates Ridge Line Energy’s strategy to strengthen its presence in Nepal’s renewable energy sector by increasing exposure to large-scale hydropower projects.