HIDCL invests Rs 21.2 billion in 18 hydropower projects

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Hydroelectricity Investment and Development Company Ltd. (HIDCL) has successfully invested Rs 21.2 billion in 18 hydropower projects thus far.

The company has also approved investments totaling Rs 26.36 billion in 30 projects, including an equity investment of Rs 5.34 billion in 12 hydropower-related companies and projects.

According to the report presented by CEO Arjun Kumar Gautam on the occasion of the company’s 12th anniversary, the total financial resources have reached Rs 25.47 billion. HIDCL’s paid-up capital stands at Rs 22.78 billion, with a reserve fund of Rs 1.99 billion and other liabilities and arrangements amounting to Rs 700 million. This represents an 11 percent increase compared to the previous year.

Among the financial resources, Rs 9.24 billion have been allocated for loan investments, Rs 12.63 billion for fixed deposits in commercial banks, and Rs 360 million for movable and immovable assets.

In terms of loan investments, HIDCL has committed to investing around Rs 30 billion in five projects, including the Upper Arun Hydroelectric project with a capacity of 1031 MW and the Chainpur Seti project with a capacity of 210 MW. Additionally, the company plans to invest approximately 2.50 billion rupees in four private sector projects through share investments.

During the financial year 2022/23, HIDCL has made significant investments, including Rs 590 million in shares and 2.86 billion rupees in debt investments, amounting to a total additional investment of Rs 3.45 billion.

It is projected that the net profit for the current financial year will be Rs 1.44 billion, marking a 52 percent increase compared to the previous financial year.

Source: Republica