Mr. T. N. Acharya , FCA

Dear Valued Stakeholders,

 

First of all congratulations to you all for achieving a great milestone, starting of explosive in tunnel. Further, would like to thank you all for actively participating on last AGM via online platform and with your continuous support from which we have been able to achieve our goal and come to this stage.

 

Nepal has one of the largest hydropower potentials, both per capita and per unit of GDP. The sustainable energy industry has a key role in Nepal’s economic development. Hydropower projects generate job, opportunities for both skilled and semi-skilled workers and also create better infrastructure, thereby fostering prosperity among the people of the region and Nepal. The Government of Nepal has gradually liberized its policies and allowed private investors to build and operate hydropower projects; Nepal has been heading for significant development in energy sector.

 

At present, hydropower fulfils only one percent of Nepal’s energy needs. The country was undertaking a strategy called ‘Vision 2020 Hydropower’, to identify economically feasible projects that will provide scope for investors searching for a conducive environment. Nepal possesses hydro power potential with feasible capacity of producing more than 43000 MW and can meet not just its own renewable and sustainable energy needs, but also serve rapidly growing demand of energy in neighboring countries like Bangladesh, India and other South Asian Countries.

 

With the slogan "Energy for the prosperity of the Nation", various professionals and well experienced individuals have united together, identified Nupche Likhu Hydropower Project (57.5 MW) and obtained survey license on 14th Jestha, 2074 B.S, began our journey to generate electricity within the period of 4 years from obtaining survey license and starting construction work. Considering the short span of time amid the COVID pandemics and various hinders, we achieved major milestone like certified as a best practices management system of is remarkable achievement comparing to hydropower Industry benchmark in Nepal.

 

Despite pandemic hinders across the globe since last 2 years, due to inter departmental synergy and consistency on transparency and accountability, the major achievements are we succeed to achieve certification of ISO 9001:2015 on 20th Magh, 2077, the Environmental Impact Assessment (EIA) for the project and Initial Environmental Examination (IEE) for the Transmission Line has been approved, the Civil Contractor, Explosives Suppliers and Supervision & Management Consultant has already been fully mobilzed to the site, about 95% of the Construction of Power Distribution Lines and Associated Structures is completed,  the Civil Contractor has been excavating tunnels from different fronts available, Contract Award for EM, HM (Erection and Design Packages) & TL has been completed and decision regarding conversion of the Vision Energy & Power Pvt. Ltd into Public Company has been approved from AGM. Detailed progress of the project is also presented in the official website of the company i.e. www.veplinfo.com in periodical basis.

 

As the company is led by professional team, we always strive to accomplish the project in time and within the budget and provide value for money to the investors and stakeholders. In hydropower sector, delay in project execution are usually caused by multiple technical and non-technical risks which in turn increase the cost of the project. Our team having well experience and exposure in the hydropower industry are capable of dealing with the technical and non-technical risks that we may encounter during the execution of this project. We always demonstrate the utmost corporate discipline and transparency in execution of the project in line with the corporate governance guidelines. We have formulated various Manuals and Guidelines for instances Finance Manual, Administration Guidelines, Human Resource Manual, Performance Evaluation Guidelines, Branding Guidelines, Internal Audit Guidelines, Salary Revision Guidelines, Project Management Guidelines etc. And, further, we introduced knowledge based innovations to reduce the construction time and eliminate uncertain risk.

 

In recent future, company will move forward investing in new projects and committed to energy sector which would provide opportunity for the investment. As we have effective management information system, we would be sharing every opportunity details to our valued shareholders. We will continue to strive hard for the greater success of the company and to enhance the value of your investments with good returns.

 

In closing, this all tremendous progress would not have been possible without your generous support. Would like to express my gratitude toward all our investors who put their faith in us and we expect and appreciate your continued support for the future.

 

Thank You.