United IDI Mardi RB Hydropower Limited.

United Idi-Mardi and R.B. Hydropower Limited is a hydropower-focused independent power producer in Nepal that develops and operates run-of-river hydropower projects. Its primary undertaking is the Upper Mardi Hydropower Project (on the Mardi Khola in Kaski District), with an installed capacity of 7 MW. The project leverages a net head of approximately 317.5 m and a design discharge of 2.63 m³/s (at 40% exceedance flow), channeling water via intake, desander, and a 3,725 m penstock to horizontal-axis Pelton turbines, with electricity evacuated to the national grid via a 33 kV transmission line to NEA’s Baskot substation. Having completed the detail project study, environmental assessment, and regulatory approvals, UMRH signed a Power Purchase Agreement (PPA) with Nepal Electricity Authority (NEA) on Jestha 25, 2073 B.S. (≈ 2016 AD) and a grid-connection agreement on Ashad 14, 2072 B.S. The Upper Mardi plant began supplying electricity following commissioning, contributing to Nepal’s renewable energy supply portfolio. Because of run-of-river design, generation levels naturally vary with seasonal water flow making hydrology and dispatch instructions from NEA significant determinants of performance. Publicly traded (ticker symbol “UMRH”), the company has a paid-up capital of NPR 460,824,000 (face value Rs. 100 per share) and a market capitalization that as of late 2025 stands around NPR 2.6–2.7 billion, indicating substantial investor interest for a small to mid-scale IPP. The company has recently issued a 4 % bonus share (2025), reflecting a practice of rewarding shareholders. Like many hydropower firms in Nepal, UMRH faces the typical sector risks: hydrology variability, dependence on timely dispatch and grid-evacuation infrastructure, and exposure to regulatory and interest-rate risks all of which can influence cash flows and long-term viability. Nonetheless, its relatively modest size, successful PPA, and established public-company status provide a foundation for stability and potential growth especially if it can manage water-flow risks and maintain efficient operations.