Hydro Empire Converts to Public Company: A Major Leap for Upper Myagdi Hydropower Project
Hydro Empire Pvt. Ltd.
18th December 2025, Kathmandu
The Hydro Empire Public Company conversion is now official. The General Assembly of Hydro Empire Private Limited (Hydro Empire Public Company) successfully concluded today, Thursday, under the chairmanship of Company Chairman Kaji Lama.
Hydro Empire Pvt. Ltd.
This significant meeting saw the approval of a special resolution to transition the company from a Private Limited status to a Public Limited Company.
This strategic move is expected to bring greater investment opportunities and transparency to the firm, which is currently developing the vital Upper Myagdi Hydropower Project.
The assembly approved several crucial reports. Attendees thoroughly discussed and formally passed the annual report for the fiscal year 2081/082.
Furthermore, the meeting sanctioned all financial statements, including the auditor’s report for the fiscal year 2081/082. The general assembly also appointed the auditor for the upcoming fiscal year 2082/083 and finalized their remuneration.
Progress of the Upper Myagdi Hydropower Project
A major focus of the meeting was the progress update on the Upper Myagdi Hydropower Project. This project, promoted by Hydro Empire, is a key national infrastructure endeavor.
The assembly engaged in a detailed discussion about the project’s current status and officially approved the progress report. All contracts and agreements executed during the project’s construction phase were also formally ratified and approved by the shareholders.
Special Resolution: Conversion to Public Limited Company
The passing of the special resolution to convert the company from a Private Limited to a Public Limited Company marks a pivotal moment in Hydro Empire’s history.
The General Assembly determined the authorized capital, issued capital, and paid-up capital of the new Public Limited Company. The meeting further approved the drafting of the Memorandum and Articles of Association.
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The Board of Directors was granted full authority to execute all necessary tasks related to this transition, ensuring a smooth and swift conversion process.
The transition to a Hydro Empire Public Company structure is widely viewed as a major step towards better corporate governance and accessibility to the public market.
Project Scope and Financial Details
The Upper Myagdi Hydropower Project is currently under construction in Dhaulagiri Rural Municipality, Myagdi District. Initially planned for 37 MW, the project’s capacity has been significantly increased to 46.25 MW.
The estimated cost for the complete project now stands at an impressive Rs 8.46 billion. Hydro Empire is pushing forward with an ambitious timeline.
The current target for the commencement of commercial electricity generation is set for the end of Chaitra, 2083 BS. This increased capacity and focused development underscore the company’s commitment to Nepal’s energy sector.
Outlook for Stakeholders and the Energy Sector
This transformation into a Hydro Empire Public Company will open the doors for a wider range of investors, including the general public, to become stakeholders in this major Hydropower Project.
This move aligns with broader trends in the Nepali Hydropower Project sector, where public involvement is key to funding large-scale infrastructure.
The successful execution of the 46.25 MW Upper Myagdi project will significantly contribute to the national grid and the country’s energy independence goals.
For more: Hydro Empire Pvt. Ltd.
