1.      Company Introduction:

Ghalemdi Hydro Ltd. is registered with Office of Company Registrar, Ministry of Industry with registration118415/069/70 on 5th January,2014 (Poush 21, 2070) and has obtained PAN  600995827 with registered address of Banasthali 16 , Kathmandu The company’s authorized capital is 600 Million and issued capital and paid-up capital is NPR. 550 million.

This is the company that Developed the Ghalemdi Khola Hydropower Project (5MW) in Annapurna Rural Municipality-4, Myagdi with the fund of over 1300 Promoter Shareholders.

 

2.      Project Location & Access

            Location

Annapurna - Rural Municipality- 4, Myagdi, Gandaki Province

           Access

Description	Road distance	Type of road
Kathmandu To Pokhara	200 km	Black Topped Road
Pokhara To Beni,Myagdi	80 km	Black Topped Road
Beni  To Tatopani - Project Site	30km	Serviceable Road

 

3.      Capital Structure

            Authorised Capital                              : NPR.600 million

Issued Capital                                     : NPR.550 million

Paid up Capital                                   : NPR.550 million

It has following share structure:

S.N.	Name of Shareholders	Share %
1.	Narayan Babu Adhikari	1.81%
2.	Kishor Subedi	1.67%
3.	Pramod Shrestha & Sadhana Shrestha (Spouse)	1.81%
4.	CEMAT Power Development Company Pvt. Ltd.	1.81%
5.	Uttam Prasad Vaidya	1%
6.	Other Promoters Equity	61.9%
	Total Promoters Equity	70%
7.	IPO From Local and General Public	30%
	Total	100

 

 

4.      Project Financing Module

Purposed Loan		85 crores
Equity injected		55 Crores

●       Project has been already completed and COD declared by NEA on 2076/11/05

 

5.      Board Member and Shareholding

             The company’s present structure of Board:

 

 

Name	Designation
Kishor Subedi	Chairman
Narayan Babu Adhikar	Director
Pramod Shrestha	Director
Tanka Prasad Baruwal	Director
Uttam Prasad Vaidya	Director
Sharad Raj Shrestha (Authorised Person from CMAT Power )	Director
Manisha Pradhan	Director (Public)
Raju Kumar Sharma	Director (Public)

 

Profile of Directors:

 

A. Kishor Subedi

      Mr. Subedi had been working as an Executive Chairman of this company since it's formation till the completion of this project. He holds Master's of Commerce with the specialization in Leadership and Master's of Professional Accounting both from university of Ballarat, Austraila. Apart from this he holds Master's in Economic from Tribhuvan University. He has got experience of 7 Years in civil construction sector and leading this company till this date. He has attended various National and International conferences and seminars. He involved in the Following organization as:

 

·   Chairman                  : North Summit Hydro Pvt. Ltd.

                                  (Nyadi Phidi Hydropower Project 21.4 MW)

·   Chairman                  : Sangrila Urja Pvt. Ltd.

                                  (Chujung Khola Hydropower Project 48 MW)

·   Founder Chairman   : Upper Seti Hydro Power Pvt. ltd.

                                 (Upper Seti Hydro Power Project 20 MW)

 

 

 

B. Pramod Shrestha

                  Mr. Shrestha is the Director in the Board of Director of GHL . Mr. Shrestha is one of the established businessmen in sector of furniture & furnishing, Cable & Internet and hydro power sector in Nepal. Being born on Myagdi district, he has complete Intermediate Level from Trivuwan University. Ghalemdi Hydro is the first Hydropower Project in the vicinity of his home town.

      He is a business leader of stature in his vicinity. His business center is at Beni, he is vigorously acting for the development of Ghalemdi Hydro Project by acting as Director. Besides his business background, His Involvement as follows:

·    President                                         - Myagdikali Sanchar Sahakari Ltd

·    Central Committee Member           - FNCCI

·    Member                                           - Beni Hospital and Research Centre

·   Proprietor                                         - New Shrestha Furniture Udhyog

·   Proprietor                                         - Pramod Construction Sewa

·   Proprietor                                         - Shrestha Saw Mill& Furniture Udhyog

·   Proprietor                                         - Shrestha Grill Industry

·   Proprietor                                         - Shrestha Aalmuniyem Udhyog

·   Proprietor                                         - Shrestha Hotel Hot Spring Tatopani

 

C. Narayan Babu Adhakari

      Mr. Adhakari is the Director in the Board of Director of GHL. He is one of the key person for managing the Ghalemdi khola Hydropower Project. His academic qualification is B. Com from Shanker Dev Campus on 1992, Icom from People campus 1988 and his professional Qualification is Semi Chartered Accountant from Institute of chartered accountant New Delhi. Previously he was involved in the managing of Manufacturing and Trading institution as a General Manager for more than 10 years. Besides his business background, he has involvement in different organization.

His involvement and experience are:

·   Proprietor                                         - NB Adhikari & Associates,

·   General manager - AVCO International Pvt. Ltd an authorized distributor of Hyundai motor Company

·   Finance Controller                             - Himalayan Brewery ltd.

·   Business & Financial Advisor

·   Executive Partner                             - Nagarjun Trade Link

D.        Tanka Prasad Baruwal

Mr Baruwal is the Director in the Board of Director of GHL. He is one of the key person for managing the Ghalemdi khola Hydropower Project. He holds I.A from Pritivi Narayan Campus pokhara. His involvement in Ghalemdi is to overcome the social issue at Ghalemdi Khola Hydropower Project site Narchyang  village. He plays a vital role in managing a social issue for smooth operation of Project.

 

 

E. Uttam Prasad Vaidya

      Mr. Vaidya is the Director in the Board of Director of GHL. He is one of the key person for managing the Ghalemdi khola Hydropower Project. His academic qualification is Bachlor in management. He was a President of Bhaktpur chamber of Commerce & industry from 2009 to 2011 in his tenure his involvement for development of tourism industry in Bhaktpur is incredible. Besides this, his participation in different national and international seminar is fruitful for development of our project. Ghalemdi Hydro is the first Hydropower Project for him and his involvement and experience on other organization are:

·   Proprietor                 - Bhaktpur silver jewalry Centre,

·   Managing director    - Golden Gate Guest House

·   Director                    - Bagmati Cold Storage P. ltd. Bhaktpur

·   Director                    - Club Bagmati, Bhaktpur

·   President                  -  Bhaktapur chamber of commerce & industry (2009-2011)

·   President                  - Bhaktapur Uddhyami saving and credit cooperative.

·   President                  - Bhaktpur Lapsy Candy Industry

·   Member                    - Bhaktpur tourism Development Committee (BTDC)

·   Sergeant at arms       - Rotary Club of Bhaktpur (2004-2005)

 

 F . M/S.CEMAT Power Development Company (Represented by)

      Sharad Raj Shrestha

 

 

6.      Project Management Team

S.N.	Name	Position
1	Mr. Kishor Subedi	Chairman
2	Mr. Narayan babu Adhikari	Director Finance & Operation
3	Mr. Bhim Prasad Paudel	Plant Manager
4	Mr. Anil Paudel	Finance Officer / Company secretary
5	Mr.  CA Ustav Dangi	Independent Auditor

 

7.      Project Highlights

Ghalemdi Khola Hydropower Project is a run-of-river project with installed capacity of 5.0 MW. Average annual energy production of the project as per PPA signed on 2063/10/5 is 29.123Gwh (after 5% Outage and loss) and Dry Season sellable energy: 4.867Gwh and Wet Season sellable energy: 24.256 Gwh). The construction of the project is Completed and got the Commercial operation date (COD) from Nepal  Electricity Authority on Falgun 5, 2076.

 

 

8.      Project Location

The project is located in geographical coordinates of latitude 28°31’30” to 28°32’30” North and longitudes 83°40’30” to 83°42’00” East. The Head-works and Powerhouse site is located at the right bank of Ghalemdi Khola and Left bank of Nilgiri Khola respectively. It is located about 30 km North of Beni Bazar, the headquarter of Myagdi district The altitude of the Intake and Powerhouse are 1780.0m amsl and 1630.0m masl respectively.

 

                  

Figure 1 Project Location with layout

At present there is road access to the powerhouse area.  Nearest point with main road access is Tatopani about 25 km past Beni Bazar.  The road distance from Kathmandu to the district headquarter Beni Bazar is 280 km.  From Beni Bazzar to Powerhouse through tatopani is 30 km. The total distance from Kathmandu to site is 310 km..

 

 

10.  Progress status of the Project:

All the Civil Construction of Ghalemdi Khola Hydro Power project 5 MW had been completed on Mangshir 2076, Electro Mechanical works had been completed on Poush 2076.  We had conclude the Testing from 18th Magh, 2076  to  5th Falgun, 2076 and got the Commercial operation Date from NEA on 5th Falgun 2076. Onwards the project is running smoothly.

 

11.  Project Financing

Total Project Cost	:	Rs. 140 Crores
Debt	:	Rs. 85 Crores
Equity	:	Rs 55 Crores

ASSUMPTIONS IN FINANCING

•      Debt Equity ratio        : 70:30

•      Finance method          : Project finance

•      Loan term                    : 12 years after COD

•      Total energy                : 29.123GWh

•      Energy rate                  : Rs. 4.80 - 8.40 /kWh

•      Escalation in tariff      : 3%  for 5Years form 4 MW and 8 years for additional 1 MW

•      Annual Revenue         : Rs. 15.73 Crores to 18.34 crores in fifth year and afterwards