Kathmandu - Himalaya Urja Bikas Company Limited (HUBCL) successfully conducted its 25th Annual General Meeting (AGM) today, reaffirming its long-term commitment to advancing Nepal’s hydropower sector through the timely development of medium-scale renewable energy projects.
Established in 2056 B.S. as a private limited company by a team of seasoned professionals, HUBCL was converted into a public limited company on 17th Kartik, 2071 B.S. With a clear vision to harness Nepal’s vast hydropower potential, the company is currently developing two run-of-river hydropower projects over the Khimti Khola in Chhuchure V.D.C., Ramechhap district: the 12 MW Upallo Khimti Hydropower Project and the 7 MW Upper Khimti-II Hydropower Project.
During the AGM, company representatives informed shareholders that both projects are in the construction phase and progressing at a satisfactory pace. Preliminary works have already been completed, while civil, hydromechanical and electromechanical contractors are actively engaged on site. The projects are targeted for completion within the next two years, reflecting the company’s focus on timely execution and energy delivery.
HUBCL’s financial position was also highlighted at the meeting. The company has an authorized capital of NPR 990 million and an issued capital of NPR 470 million, with a shareholder base exceeding 1,400 investors. Both hydropower projects achieved financial closure in 2071 B.S.-Upallo Khimti on 23rd Mangsir and Upper Khimti-II on 3rd Chaitra-through a consortium of four banks: Nabil Bank Limited, Everest Bank Limited, Nepal Bank Limited and Ace Development Bank Limited, with Nabil Bank Limited serving as the lead bank.
The total debt financing amounts to NPR 1.435 billion for the Upallo Khimti project and NPR 924 million for Upper Khimti-II, based on a 3:1 debt-to-equity ratio. This financing structure underscores strong confidence from Nepal’s banking sector in HUBCL’s technical capacity and project viability.
Headquartered at Subidhanagar, Tinkune, Kathmandu, HUBCL emphasized during the AGM its broader contribution to Nepal’s sustainable energy transition. Once operational, the two projects are expected to support national electricity supply, reduce dependency on energy imports, and contribute to local economic development in Ramechhap district.
The 25th AGM concluded with a renewed commitment from the company’s leadership to transparency, shareholder accountability, and the promotion of clean and indigenous energy in Nepal-values that align closely with the country’s long-term environmental and development goals.
