Ridge Line Energy to Form Wholly Owned Subsidiary for 12.504 MW Maiwa Khola Hydropower Project
Ridge Line Energy Limited has approved the creation of a wholly owned subsidiary, Ridge Power Limited, to develop the 12.504 MW Maiwa Khola Hydropower Project. The decision was made at the company's 121st Board of Directors meeting on Ashoj 13, 2083. The new entity will handle survey, study, and construction works for the project.
Ridge Line Energy Limited has decided to establish a wholly owned subsidiary, Ridge Power Limited (proposed), to develop the 12.504 MW Maiwa Khola Hydropower Project.
The decision was taken at the company's 121st Board of Directors meeting held on Ashoj 13, 2083.
According to the company, Ridge Power Limited will be established with 100% ownership by Ridge Line Energy. The proposed subsidiary will undertake the survey, study, and construction works related to the Maiwa Khola Hydropower Project.
Ridge Line Energy has already obtained the survey license for the 12.504 MW Maiwa Khola Hydropower Project and plans to promote the project through its proposed subsidiary.
The establishment of the subsidiary will allow Ridge Line Energy to carry out the project’s survey, study, and construction activities through a separate wholly owned entity.