Nepal Water & Energy Development Company

What Nepal Water & Energy Development Company does

Nepal Water & Energy Development Company Pvt. Ltd. (NWEDC) is a Kathmandu-based Special Purpose Vehicle (SPV) incorporated as a private limited company under Nepalese law to develop, construct, own, and operate the Upper Trishuli-1 (UT-1) 216 MW Hydroelectric Project on the Trishuli River in Rasuwa District, Nepal. The project is a run-of-river (ROR) scheme with 216 MW installed capacity, comprising a 29.5m-high dam, an underground desander, a 9.8 km headrace tunnel, a surge tank, and an underground powerhouse, with a design discharge of 76 m³/s and a 341 m gross head. Under a Build-Own-Operate-Transfer (BOOT) arrangement with the Government of Nepal, the project is structured to generate 1,456 GWh of contract energy annually for sale to Nepal Electricity Authority (NEA) under a long-term Power Purchase Agreement, displacing diesel imports worth over $20 million per year and adding 20,000+ jobs during construction.

Ownership is concentrated among strategic Korean and multilateral backers: Korea South East Power Co., Ltd. (KOEN, a KEPCO subsidiary) holds 50%, Korea Overseas Infrastructure & Urban Development Corporation (KIND, a Korean government PPP vehicle) holds 25%, and the International Finance Corporation (IFC, World Bank Group) holds 15%, with the residual stake held by local Nepalese partners. NWEDC's GTM is a single enterprise off-take arrangement with NEA — there is no multi-channel distribution or diversified customer base. The business model is effectively a regulated infrastructure concession: revenue is contractually locked via the PPA once the project commissions (target November 2026), with current project execution risk dominated by the 26% remaining construction work and the Doosan Heavy Industries $356.3 million EPC delivery. Strategic positioning emphasizes technology transfer from KOEN's 15+ years of Korean utility O&M experience, targeting sub-2% transmission loss and local capacity building.

Name

Nepal Water & Energy Development Company

Legal name

Nepal Water & Energy Development Company Pvt. Ltd.

Website

https://nwedcpl.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

1–10 employees

Short description

NWEDC is a Nepal-based Special Purpose Vehicle developing the 216 MW Upper Trishuli-1 run-of-river hydroelectric project on the Trishuli River, with 1,456 GWh annual output sold under long-term PPA to Nepal Electricity Authority. Owned 50% by KOEN, 25% by KIND, and 15% by IFC.

Ownership category

akta.pro rank

Headquarters

HQ city

Kathmandu

HQ country

Nepal

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Operations, Technology or R&D, Personnel, Others

Revenue model

1. Electricity Sales: Revenue generated from sale of hydroelectric power to Nepal Electricity Authority under a long-term Power Purchase Agreement (PPA). The 216 MW project produces 1,456 GWh of contract energy annually for domestic consumption.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Nepal Water & Energy Development Company (NWEDC) is a Special Purpose Vehicle that develops, builds, owns, and operates the Upper Trishuli-1 (UT-1) 216 MW run-of-river hydroelectric project on the Trishuli River in Rasuwa District, Nepal. Its sole product is electricity generated from this single asset, sold to Nepal Electricity Authority under a long-term Power Purchase Agreement. The project is being constructed under a BOOT arrangement with the Government of Nepal, with construction underway (74% physical progress as of 2026) and target completion in November 2026.

Product overview

Nepal Water & Energy Development Company (NWEDC) is an energy utility company specialized in hydropower development. The company's primary and only product offering is the Upper Trishuli-1 (UT-1) Hydroelectric Project, a 216 MW run-of-river hydropower plant located on the Trishuli River in Rasuwa District, Nepal. The project is developed as a Special Purpose Vehicle jointly owned by KOEN (50%), KIND (25%), IFC (15%), and local partners. NWEDC operates as a project development company rather than a product/platform provider, focusing exclusively on the development, construction, and operation of this single hydroelectric asset.

Differentiator

Problem solved

Functional benefit

Products and services

• Upper Trishuli-1 Hydroelectric Project (UT-1) A 216 MW run-of-river (ROR) hydroelectric project on the Trishuli River in Rasuwa District, Nepal, featuring a 29.5m high dam, underground desander, 9.8 km headrace tunnel, surge tank, and underground powerhouse. It generates approximately 1,456 GWh of electricity annually for sale to Nepal Electricity Authority under a long-term Power Purchase Agreement. Target customer is Nepal Electricity Authority, the state-owned national power utility.

Quantifiable outcome

• 216 MW installed capacity increase for Nepal
• +4 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered core.

• Doosan Heavy Industries & ConstructioncoreImplementation/ SI/ Consulting PartnerEPC contractor with KRW400 billion (US$356.3 million) contract. Responsible for manufacturing and supply of main components (turbine, generator) and power plant construction. Also equity partner through Daelim/Kyeryong JV.
• Ministry of Energy, NepalcoreStrategic or Co-development PartnerGovernment body governing energy development, regulation and utilization. Signs Power Development Agreement (PDA) with NWEDC and oversees hydropower project development.
• Department of Electricity Development (DoED)coreStrategic or Co-development PartnerGovernment department responsible for implementing power sector policies, providing One Window service and licenses to power projects, and facilitating private sector participation.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• SJVN Limited: Indian hydropower developer (JV of GoI and HP state) operating run-of-river projects with long-term PPAs; comparable project-finance structure, run-of-river technology, and government utility offtake model.
• Chilime Hydropower Development Company: Nepalese hydropower SPV listed on NEPSE operating run-of-river plants selling to NEA under long-term PPAs; directly comparable SPV structure, technology stack, and single-offtaker model.
• Butwal Power Company: Nepalese hydropower developer and operator with multiple domestic run-of-river projects; the closest domestic peer in scale, technology (hydropower), and offtake model (sales to NEA).

Broad incumbents

• Statkraft: Norwegian state-owned generator and Europe's largest renewable energy producer, with a global hydropower portfolio; comparable technology and long-duration contracted cash flows, though mature and at much larger scale.
• Brookfield Renewable Partners: Owner and operator of one of the world's largest publicly traded renewable platforms, with a global portfolio heavily weighted to hydropower; comparable in long-duration hydro cash flows and project-finance structures, though at vastly greater scale.
• NHPC Limited: India's largest hydropower PSU with a portfolio of large run-of-river and storage projects; comparable in technology and offtake (long-term PPAs with state utilities), though much larger and diversified across India.
• Tata Power: Indian integrated power major with material hydropower capacity alongside thermal, solar and distribution; comparable long-term PPAs with state utilities in South Asia, though diversified across multiple technologies and geographies.

Regional players

• Sarawak Energy: Malaysian state-owned integrated power utility with a large hydropower portfolio in Borneo; comparable run-of-river and storage hydro assets, but operates primarily in Malaysian/Brunei markets rather than South Asia.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/nepal-water-energy-development-company-pvt-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nepal Water & Energy Development Company