People's Power Limited

People’s Power Limited is a relatively new publicly listed hydropower company in Nepal, established to develop and run small-scale hydroelectric projects. The company’s main operational asset is the 4.96 MW Puwa II Hydropower Project located in Ilam district. PPL went public with its listing on the Nepal Stock Exchange (NEPSE) on 13 October 2022 under the ticker symbol “PPL,” with a paid-up capital of NPR 948.9 million. As a small hydropower firm, PPL’s mission is to harness water-power resources through run-of-river generation, feeding clean electricity into Nepal’s national grid under a long-term power purchase agreement (PPA). The firm envisions growth through expansion of its project portfolio beyond Puwa II, potentially contributing to renewable energy supply and local development, while offering investors exposure to hydro-power sector returns. From a market perspective: as of November 27, 2025, PPL was trading at Rs 351 per share, with 9,489,000 shares outstanding making its market capitalization about NPR 3.33 billion. While the stock has seen volatility (with 52-week high/low between ~Rs 648.60 and ~Rs 263.20), the company manages hydro-sector risks including hydrology variation (as run-of-river projects don’t store water) and power evacuation challenges. After its IPO in 2022, PPL used proceeds to prepay significant long-term loans, reducing its debt-servicing burden a move viewed favorably by rating agencies. Overall, PPL represents one of the newer small-scale independent power producers (IPP) in Nepal’s energy landscape combining modest generation capacity, a publicly traded structure for investor participation, and hydro-based clean energy generation. Its success and investment appeal depend heavily on river flows, operational stability, and broader sector/regulatory conditions in Nepal’s power market.