Project Transfer Overview:
Upper Syange Hydropower Limited (USHL) has officially transferred the 24.5 MW Dobhan Khola Hydropower Project to a newly established entity, Dobhan Khola Hydropower Limited, following all required legal and procedural approvals. The transfer decision was finalized during the company’s 64th Board of Directors meeting held on Kartik 25, 2082.

Reason for Transfer:
The project faced certain legal complexities that necessitated its development under a separate company. To address this, a Special General Meeting (SGM) held on Jestha 7, 2081 approved the establishment of a new company specifically to oversee and execute the construction of the Dobhan Khola Project.

Regulatory Approvals:
The transfer process was formally approved by the Department of Electricity Development (DoED) on Magh 21, 2081, and subsequently by the Electricity Regulatory Commission (ERC) on Shrawan 23, 2081.

Investment and Financial Structure:
As part of the arrangement, all expenses incurred by USHL during the study and preliminary development phases of the project will be recognized as equity investment in Dobhan Khola Hydropower Limited. Accordingly, USHL will invest by purchasing 931,375 shares at a par value of Rs. 100 per share, totaling Rs. 9,31,37,500.

Strategic Significance:
The decision, passed unanimously by the Board, represents a strategic restructuring initiative by Upper Syange Hydropower Limited. It aims to ensure efficient project execution, financial clarity, and compliance with all regulatory frameworks, thereby strengthening the company’s long-term hydropower development strategy.