Kathmandu. Asian Life Insurance has invested more than Rs 670 million in half a dozen hydro power companies.
The company’s financial year 2080. According to the financial statement of 81, a total of Rs 673 million has been invested in the share capital of the six hydropower generating companies that are yet to be listed.
According to the company, renewable energy generation has been given priority through investment in hydropower projects.
According to the annual report, shares have been invested in Barah Multipower Limited, Unitech Hydropower Limited, Mabilung Energy, Trust Energy, Milke Jaljal Hydropower, Moonlight Hydropower Company and Super Bagmati Hydropower.
Of these, Super Bagmati Hydropower has invested the highest amount of Rs 305 million. Similarly, It has invested Rs 120 million in Unitech Hydropower Limited. The company is constructing the 5.8 MW Upper Phawa Hydropower Project in Taplejung district. An additional Investment of Rs 60 million has been added to Rs 120 million.
Similarly, Asian Life has a total investment of Rs 50 million in Mabilung Energy Limited, which is currently issuing public shares.
Moonlight Hydro has invested Rs 90 million, Trust Energy Rs 68 million, MilkyJalj Rs 39 million in Hydropower and Barah Multi Power Limited Rs 1 million.
Apart from this, the stock market has also invested significantly in hydropower companies listed in NEPSE.
Upper Tamakoshi Rs 24.55 million, Hydro Electricity Investment and Development Company Rs 797,000,
As mentioned in the annual report, the company believes that investment in hydropower will not only contribute to the national economy but will also help reduce the deadly effects of climate change through the promotion of green energy.
