As per the company, the shares have been transferred to the name of Butwal Power on December 31 following which Butwal Power has become 19.4 percent share partner of Upper Marshyandi 2 Hydropower Project.
Butwal Power in partnership with three Chinese companies acquired the shares of 600MW Upper Marshyandi 2 and 282MW Manang Marshyandi Hydropower Company.
The share acquisition paper was signed by Butwal Power Company, NCIG International Nepal Hydro Joint Development Company and three Chinese Partner Companies (NCIG International, Xingcheng International Investment and QYC International) and Chinese Developer Company on May 4.
Similarly, the company acquired all shares of Manang Marshyandi Hydropower on April 29. The company signed share acquisition agreement with foreign shareholder Rajratna Energy Holding and local Marshyandi Power Company.
