Balephi Khola · Sindhupalchok, Nepal

Balephi-A Hydropower Project

22.14 MW run-of-river plant, over 90% built

Power sold to NEA under a 30-year agreement

IPO underway: issue manager and underwriter appointed

Explore the Project Investor Relations

Installed Capacity: 22.14MW
Annual Energy Output: 125.3GWh
Gross Head: 86m
Overall Physical Progress: 90.58%

IPO update

SEBON review and approval of the issue In progress

Investor Relations

Who We Are

Over 90% built on the Balephi Khola.

More About Us

Moonlight Hydropower Company Limited was set up in 2006 to build the Balephi-A Hydropower Project in Sindhupalchok District. The plant takes water from the Balephi Khola at a 33 m diversion weir, clears the sediment in a settling basin and carries the flow through a 948 m canal and a 2.3 km steel pipe, 3.8 m across. From there the water drops 86 m to a powerhouse with three Francis turbines. At 22.14 MW, the plant is expected to produce about 125 GWh a year, all of it sold to the Nepal Electricity Authority.

PPA with NEA for the full 22.14 MW
90.58% physically complete (August 2026)
Roads, irrigation and temple protection for local communities

Kalyan Bikram NeopaneChairman, Moonlight Hydropower

Board of Directors

The People Steering Moonlight

Three directors oversee the company and the construction of Balephi-A.

Meet the Full Team

Mr. Kalyan Bikram Neopane
Chairman
More than 12 years in civil construction and hydropower
Mr. Sudhir Lamichhane
Director
More than 20 years in corporate management
Mr. Bed Prakash Bista
Director
More than 15 years in corporate management

From the Site

Construction at Balephi-A

Headworks and under-sluice on the Balephi Khola
Steel pipeline crossing the terraced fields
Pipeline and excavator near the surge tank
Powerhouse building

Why Balephi-A

A Plant Built to Run for Decades

A run-of-river plant has no fuel bill. Balephi-A’s income is fixed by a long-term tariff agreement with Nepal’s national utility, and its output adds to the dry-season power Nepal needs most.

Over 90% Built

The headworks, settling basin, forebay and surge tank are finished. Remaining work is mainly on the penstock, the turbines and generators, and the 33 kV line.
A Contracted Buyer

The Nepal Electricity Authority buys the plant’s output under a power purchase agreement that runs for 30 years from commercial operation.
Dry-Season Tariff

Rs 8.40 a unit from December to May and Rs 4.80 in the wet months, with 3% yearly escalation on the base rate in the early years.
Local Benefits

About 9 km of village roads, an irrigation canal, and protection works for the Mahadev Mandir and a local school.

542.65km²
Catchment Area: 32.4m³/s
Design Discharge: 124.56GWh
Contracted Energy a Year: 30yrs
Power Purchase Agreement

Construction

Where the Work Stands

90.58%

Overall Physical ProgressAs of August 2026

Full Breakdown

Access Road90%
Land Acquisition & Compensation95%
Hydromechanical Works70%
Electromechanical Works70%
Transmission Line67%

Site Updates

Structure by Structure

01100% complete
Headworks

The weir, intake, under-sluice, spillway and gravel trap are fully constructed at the headworks site.
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02100% complete
Approach Canal

The 82 m approach canal connecting the gravel trap and the settling basin is fully complete.
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03100% complete
Settling Basin

Excavation, the main body, the pond and the hopper wall of the settling basin are complete.
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0495% complete
Headrace Canal

910 m of the 948 m headrace canal linking the settling basin to the forebay is complete.
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05100% complete
Forebay

Site clearance, the bottom slab, side walls and bellmouth installation are fully complete.
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0670% complete
Hydromechanical Works

Of the 2,945 m of combined headrace and penstock pipe, about 2,061 m has been rolled and erected.
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07100% complete
Surge Tank

The surge tank has been fully excavated and constructed.
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0860% complete
Penstock

Site clearance, excavation and construction of saddle supports and anchor blocks are underway along the penstock alignment.
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0995% complete
Powerhouse

The foundation, earth mat, PCC works and superstructure are complete, and finishing works continue. Turbine and generator components, including the draft tube and main inlet valve, are being delivered and installed.
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1070% complete
Protection Works

Stone masonry retaining structures are under construction to protect key project areas.
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11100% complete
Social Mitigation

About 9 km of local roads, an irrigation canal, and protection works for the Mahadev Mandir and a local school are complete.
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1280% complete
Infrastructure & Site Camp

Site camps, stores, stockyards and fabrication workshops are in place near the headworks and powerhouse.
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1390% complete
Access Road

About 17 km of access road from Balephi Bazaar to the headworks and powerhouse has been upgraded and protected.
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