Kathmandu, May 31: North Summit Hydro Limited has successfully concluded its 10th Annual General Meeting (AGM), reviewing key financial, operational, and strategic developments related to the company's hydropower investments and ongoing infrastructure projects.
The AGM was chaired by the company's Chairman, Vivek Tater, while Managing Director Balendra Chhetry presented a detailed update on the construction progress of the 21.4 MW Nyadi-Phidi Hydropower Project currently being developed in Lamjung district.
During the meeting, shareholders discussed and approved several important agendas, including the financial highlights of fiscal year 2081/82, appointment of auditors, changes in equity structure, investment decisions, amendments to agreements with banks and financial institutions, and updates to shareholding records. The AGM also reviewed the company's planned share purchase in the 4 MW Middle Nyadi Hydropower Project and ongoing development of the Nyadi-Phidi Hydropower Project cascade.
According to company updates, the Nyadi-Phidi Hydropower Project is a 21.4 MW run-of-river scheme located in Lamjung, Gandaki Province. The project has already secured major statutory approvals, including its generation license, power purchase agreement, and grid connection arrangements. Construction activities are progressing across multiple components, including intake structures, desander works, headrace tunnel excavation, penstock installation, and hydromechanical infrastructure.
The project is being developed by company with the objective of contributing to Nepal’s growing renewable energy capacity while generating local employment opportunities and supporting regional infrastructure development. The company estimates annual energy generation of approximately 129.14 GWh through the project’s run-of-river design, which minimizes environmental impacts compared to large reservoir-based systems.
Addressing shareholders, Managing Director Balendra Chhetry emphasized that construction works are advancing steadily and reaffirmed the company's commitment to completing the project efficiently while maintaining quality standards and environmental responsibility.
The AGM concluded with discussions on future investments, corporate governance matters, and strategies aimed at strengthening the company’s role in Nepal’s hydropower sector and clean energy transition.
#EcosphereNews #NorthSummitHydro #NyadiPhidiHydropower #HydropowerNepal #RenewableEnergy #CleanEnergy #Lamjung #SustainableDevelopment #NepalEnergy #GreenInfrastructure #HydropowerProject #EnergyTransition
