Upper Syange Hydropower Limited

Upper Syange Hydropower Limited is a Nepali independent power producer (IPP) focused on small-scale hydropower generation, established with the aim of harnessing river water resources for electricity generation and contributing to Nepal’s energy supply.The company is registered under the Office of Company Registrar with registration number 166426. Its flagship project is the 2.40 MW run-of-river Upper Syange Hydropower Project (USHP), located on Syange Khola in Lamjung District.The scheme leverages a gross head of ~450.5 m, with a net head around 439 m, and is expected to generate about 14.616 GWh annually.The project was initially incorporated on 26 January 2009 as a private limited company and later converted to a public limited company on 30 March 2017. After successful execution, USHP started commercial operations and the company got listed on the stock exchange on 10 August 2023 under the ticker symbol “USHL.” As a listed hydropower company, USHL aims not only to operate its current plant but also has the ambition to develop further hydropower projects using local technical and financial resources. Despite its small scale, USHL represents an important example of grassroots hydropower development integrating local resource utilization, public-market financing (IPO/listing), and contributing to Nepal’s renewable energy mix. As with most hydropower ventures, the company navigates typical sector challenges: hydrology variability (river flow changes), dependence on power evacuation infrastructure, and ensuring consistent generation and offtake under a long-term Power Purchase Agreement (PPA).Financially, USHL is publicly traded: as of late 2025, it shows a paid-up capital base of NPR 220,000,000 (face value Rs 100 per share, 2.2 million shares outstanding).The stock’s recent market data indicates a share price that reflects the risks and growth potential typical of small-scale hydro IPPs.