Monday, September 2, 2013

London Stock Exchange listed British company keen to invest in hydropower

A British company – listed in London Stock Exchange (LSE) – is interested to invest $10 million in hydropower sector.
OPG Power and Infrastructure – that has already taken up middle sized power projects in Chennai of India – said it is keen to invest as equity partnership in Hydroelectric Investment and Development Company Ltd (HIDCL)
The government has 50 per cent equity in the investment company –HIDCL with Rs 50 billion authorised capital – and 30 per cent is owned by three public limited companies, whereas the remaining 20 per cent share is for private investors and the general public.
 The OPG had sent a letter on first week of August expressing its interest in investing in Nepal's hydropower sector, but the national hydropower company will meet with the investor and decide.
This is the first time any foreign investor has offered to to invest in equity partner with government-owned HIDCL that was established aiming at developing storage type mega power projects that is expected to help reduce scheduled load-shedding hours even during dry season.
The largest public limited hydropower company has recently organised a hydropower investment meeting inviting foreign power developers,  including the OPG.

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