Panchakanya Mai Hydropower Ltd

About

Panchakanya Mai Hydropower Limited is a Nepalese hydropower company, primarily engaged in the development, operation, and management of run-of-river hydroelectric projects in the eastern hills of Nepal. The company’s flagship asset is the Upper Mai Hydropower Project (12 MW) located in Mabu & Maimajhuwa, Ilam district; in addition, it runs the cascade project Upper Mai C Hydropower Project (6.1 MW) in Sulubung, Sandakpur Gaunpalika, Ilam.The Upper Mai Project originally had 9.98 MW licence and capacity, but was upgraded to 12 MW as of Bhadra 2073 B.S. (corresponding to around 2016–17) after completion of additional works. The cascade project came online shortly after under similar run-of-river design. PMHPL was originally established (under the earlier name of East Nepal Development Endeavour Private Limited) in 2059 B.S.; later the name was changed to Panchakanya Mai Hydropower Limited. The company went public and began trading on the Nepal Stock Exchange (NEPSE) on 10 October 2018 under the symbol “PMHPL.” As of 2025, the company has issued 11,000,000 shares with a paid-up capital of NPR 1.1 billion.PMHPL’s mission, per its corporate profile, is to develop and operate hydro-power projects in a “responsible & sustainable manner,” contributing to Nepal’s renewable energy supply while aiming to provide attractive, long-term returns to shareholders. The company has constructed its own transmission infrastructure: an 18.5 km 132 kV transmission line to evacuate generated power to the national grid at Godak Substation of the Nepal Electricity Authority (NEA). Financially, the company is exposed to typical hydropower risks river‐flow variability, hydrology uncertainty, seasonal generation swings, and hydrological dependence, which affect generation output and revenue. For instance, in the third quarter of a prior fiscal year, PMHPL reported a net loss (NPR 39.6 million), citing increased administrative costs and interest/depreciation burden despite electricity-sale income. Nonetheless, over time, PMHPL remains among the modest-sized independent power producers (IPPs) listed in Nepal, combining small-to-mid hydropower capacity with publicly traded shares offering investors exposure to hydro-sector returns while balancing risks typical of run-of-river plants.