Nepal Electricity Authority (NEA) has established an autonomous company named Upper Tamakoshi Hydropower Limited (UTKHPL) in March 2007 (2063/11/25 B.S.) as an executing agency for the implementation of the Project. There are six full time and two invitee members in the Board of Directors (BoD) at present. Out of six full time members, four members from NEA, one from Employees Provident Fund (EPF) and one from Nepal Telecom (NTC) are representing in the BoD. Similarly, representatives of Citizen Investment Trust (CIT) and Rastriya Beema Sansthan (RBS) are also in the BoD as invitee members.
The majority share (51%) of the Company is hold by four public entities, namely, Nepal Electricity Authority (NEA), Nepal Telecom (NTC), Citizen Investment Trust (CIT) and Rastriya Beema Sansthan (RBS). NEA has 41% stake, NTC has 6% and CIT & RBS each has 2% stake in the Company. Similarly, general public and residents of Dolakha District will have 15% and 10% share respectively. The remaining 24% share will be taken over by contributors in Employees Provident Fund (EPF), NEA & Companys staffs and staffs of financial institutions providing loans.
The Upper Tamakoshi Hydroelectric Project is the national priority project and when it is completed, it will be the largest hydroelectric plant in Nepal. The Project is entirely financed from the domestic financial institutions and companies.
The Company has planned to develop hydropower projects in Tamakoshi River basin as below:
- First Stage: Upper Tamakoshi Hydroelectric Project (UTKHEP) by 2019
- Second Stage: Diversion of Rolwaling River to the UTKHEP intake pond by 2021/22.