Country’s largest private solar energy producer to launch IPO

KATHMANDU: Pure Energy Ltd, the country’s largest private solar energy company, is going public.

The company has received permission from the Securities Board of Nepal (Sebon) – the stock market regulator – to float 1.6 million units of shares with a face value of Rs 100 each to the general public.

Pure Energy, a subsidiary of Golyan Group, is implementing two solar power plants having a combined capacity of 20 MW in Banke district. It has installed solar panels on 22 bigaha of land. The plants started harnessing solar energy in May 2023.

The company has a paid-up capital of Rs 800 million and the promoters are floating 20% of shares in the company to the general public.

Nepal currently generates 110 MW of electricity through solar energy. According to the Nepal Electricity Authority (NEA), 16 solar plants operated by the private sector are generating a combing 82 MW.

NEA recently signed proposals from 64 companies to generate 974.5 MW of solar power. The capacity of these projects ranges from 5 MW to 50 MW.