Kathmandu. Sanima Middle Tamor Hydro Power Limited has decided to increase its stake in Tamor Viyo Hydropower to 55 percent.
The board meeting of the company held on September 18 has decided to increase the share stake to 55 percent, Sanima Middle Tamor said in a statement.
Earlier, the meeting of the Board of Directors of Sanima Middle Tamor held on September 2 had decided to invest 6 percent share in the company. The board of directors of the company has decided to increase the investment with the strategy of acquiring majority shares.
The Joint Venture (JV) company of Sanima Middle, Tamor and Byoma Hydro was selected for the project development in the Build-Operate-Ownership Transfer (BOOT) model.
After the department selected this JV company on August 26, the company is going to establish a special purpose vehicle (SPV). The rest of the investment in the SPV will be made by Vyoma Hydro. An SPV is a company established with a specific purpose or specific purpose of investing in a particular sector only.
Sanima Middle Tamor Company has been operating the 73-megawatt Middle Tamor Hydropower Project in Mikwakhola Rural Municipality of Taplejung district.
