Kathmandu – Sajha Power Company Limited has announced that construction of the 22.5 MW Lower Balefi Hydropower Project is progressing at a rapid pace, with the goal of completion within the next two years. The company’s third Annual General Meeting (AGM) has ratified several key financial and structural decisions, clearing the path for the project’s timely delivery.
The meeting, held at Hotel Crystal Pashupati in Gaushala, Kathmandu, approved short-term and long-term loans totaling Rs 305.98 crore for the Lower Balefi Project. Additionally, the assembly approved essential contracts related to explosives, civil works, tunneling, and electro-mechanical components.
To facilitate smooth project implementation, the assembly authorized the Board of Directors to manage the purchase and sale of movable and immovable assets in the company’s name. The Board was also granted full authority to seek approvals from the Electricity Regulatory Commission and other relevant bodies regarding share transactions and operational activities.
The AGM passed the Board of Directors’ report for the fiscal year 2024/25 and approved the financial statements—including the balance sheet, profit and loss account, and cash flow statement—as of July 16, 2025. Furthermore, a proposal for the appointment and remuneration of the external auditor for the fiscal year 2024/25 was also approved.
Chairman of the Board, Kubermani Nepal, expressed his firm commitment to completing the Lower Balefi Hydropower Project on schedule to bolster the national electricity grid. He also extended his gratitude to the shareholders, board members, and well-wishers for their continued support.
According to the company, Ridi Power Company holds a 55 percent investment in the project. With the necessary financial resources, construction contracts, and management decisions now finalized by the general meeting, the Lower Balefi Hydropower Project is expected to be completed within the scheduled 24-month timeframe.
Urjasanchar
