NRN Infrastructure and Development Limited (NRNIDL) was registered in September 2012 under the Company Act 2063 with the main motive of collective investment in hydropower as well as other priority sectors. Initially the company was registered in the name NRN Investment Limited that was changed to NRN Infrastructure & Development Limited in February 2, 2017.
After the government of Nepal (GoN) liberalized its policies and allowed private investors to build and operate hydropower projects, Nepal has been awaiting significant development in energy sector. To mobilize the skill, capital, and other resources of Nepali diaspora for this development, NRN Infrastructure and Development Limited(NRNIDL) was registered in Kathmandu under the Company Act 2063, in Nepal (September 2012) . Its goal is to facilitate collective investment in prioritized sector in Nepal by the Nepali diaspora.The registered office of the company is located in Kathmandu, Nepal. The objective of the company is to invest in hydropower and other priority sector thereby contributing to the overall development of Nepal.
Concept Paper on Collective Investment
The Kathmandu Declaration of the 5th Global Conference had envisaged bringing home collective investment, primarily in the government-prioritized sectors in Nepal by working closely with the NRNA, the GoN, and the FNCCI. NRNIDL was thus established as Public Limited Company, registered with the Company Registrar's Office, Kathmandu under the banner of NRN Infrastructure and Development Limited. At present, our investors come from all over the worlde.
After the NRNIDL was established, the collective investment concept has been embraced by a large number of Nepali communities living abroad. Nepali diaspora is keen to contribute to the development of their mother country. Investors who had little idea and no time for operating enterprises in Nepal but were looking for investment opportunities have used NRNIDL as their mean of investment. NRNIDL has acted as a catalyst in attracting and facilitating investment of Nepali Diaspora in Nepal.
The gateway to this opportunity was the NRN Act 2064 B.S. and the Bylaws 2066 B.S. This Act allowed NRNs and PNOs to invest in Nepal with their investment getting the treatment accorded to both the FDI as well as the investment by a resident Nepali . The GoN declared 2012/013 as investment year and promised to engender a conducive environment for investment. In this backdrop, development of a hydropower of 27 MW capacity was started as the Company's initial undertaking. Hydropower was the first preference because of its potential in contributing to the socio-economic development of the nation, its market potentials, certainty of prices and value addition to the national resources. Its natural inclination towards the local market is a promising investment opportunity.
Primarily, the idea of collective investment was adopted to attract the investment of low-income group, specifically, the people in foreign employment. Furthermore, such an initiative would give them a sense of ownership in the project as well as a feeling of pride in knowing that they are contributing to the nation's development. Thus came the concept of investment aimed at mobilizing the remittance resources to more productive sectors, thereby ultimately contributing to the overall development of the nation. Undeniably, prosperous Nepal is a dream of every NRN.
- As a kick start of investment with full support and trustworthy participation from shareholders around the globe, NRN Infrastructure and Development Limited (NRNIDL) tied up with Himalayan Power Partner Limited (HPPL) on 24 March, 2013 to develop 27 MW Dordi Khola Hydropower Project in Lamjung. The project is approaching towards completion at present.
- NRN Infrastructure and Development Limited (NRNIDL) made an agreement with Sanima Middle Tamor Hydropower Limited (SMTHL) to develop 73 MW Middle Tamor Hydropower Project in Taplejung and the project is in the full phase of development at present.
- NRN Infrastructure and Development Limited (NRNIDL) has invested in 28.1 MW Likhu Hydropower Project being developed by Swet Ganga Hydropower Limited in Ramechap and the project is in the full phase of development at present.
- Share Purchase Agreement (SPA) was made between NRN Infrastructure and Development Limited (NRNIDL) and Mathillo Mailun Khola Jalvidhyut Limited 14.3 MW Mathillo Mailung Khola Hydropower Project in Rasuwa and the project is in the full phase of development at present.