KATHMANDU, Jan 16: The 30th Annual General Meeting of Butwal Power Company Limited was held on January 14 in Kathmandu under the chairmanship of the Chairman of the Board of Directors, Padma Jyoti.
The meeting passed all the proposals submitted by the board of directors, including distributing 7.5 percent cash dividend from the net profit and accumulated profit of the fiscal year 2078/79 to the shareholders and issuing 5 percent bonus shares. Due to the partial investment of the Government of Nepal, the cash dividend will be distributed to the shareholders as soon as possible with the approval of Nepal Government as per the Company Act, 2063. With the issuance of bonus shares, the company's paid-up capital will remain at 3 billion 409 million 64 thousand 600 rupees.
United Finance giving 20 percent stock dividend
The 9.4 megawatt Aandhikhola and 12 megawatt Jhimruk hydropower stations operated by the company are running regularly. Besides, Khudi Hydropower Center of 4 MW and Khimti First Hydropower Center of 60 MW operated through subsidiaries and related companies have been operating smoothly. Since July 2020, half of the ownership of Khimti First Hydropower Station has gone to Nepal Electricity Authority.
The construction work of Nyadi Hydropower Project of 30 MW located in Lamjung District has been completed and has been operational since 10 May 2022. Due to the delay in the construction of the transmission line which should be built by the Nepal Electricity Authority, the project has made arrangements for power supply by constructing an alternative transmission line. However, because the NEA did not take all the electricity during the rainy season, the project has been affected.
Preparations are being made to restart the construction work of the Kabeli A hydropower project of 37.6 MW after raising local financial investment.
Among the projects under construction in the Marsyangdi River in joint investment with three Chinese investors are the 135 MW Manang Marsyangdi Hydropower Project, the 139.2 MW Lower Manang Marsyangdi Hydropower Project and the 327 MW Upper Marsyangdi Second Hydropower Project in the cascade semi-reservoir concept (a total of 601 MW). Construction work of the Manang Marsyangdi hydropower project is set to start this fiscal year. Similarly, the 7.9 megawatt Chinokhola hydropower project is also under construction. Mugu Karnali hydropower project of 160 MW and Jhimruk solar projects of 7 MW are also under feasibility study.
