The 45 MW Upper Bhotekoshi Hydropower Project in Sindhupalchowk, which had been closed for a month, has come into operation with an agreement to give 10 percent shares to Bhotekoshi Gen-G Public Investment Public Limited.

On Sunday, Bhotekoshi Gen-G Public Investment Public Limited and Bhotekoshi Power Company Private Limited signed an agreement to provide shares and operate the project from today. The agreement was signed by Bhotekoshi Gen-G Public Investment Public Limited Chairman Phurpa Sherpa and other representatives and Company Secretary Bishwamohan Karmacharya and other assistant managers on behalf of the company.

In the presence of local political parties, Bhotekoshi Company had agreed to provide 6 percent shares to those affected by the project in 2071 Paush. Now, an agreement has been reached to increase the same 6 percent by 4 percent to 10 percent.

'It has been agreed that Bhotekoshi Power Company Private Limited (the second party) will provide 10 percent shares from its shares to the public limited company formed by the local people directly affected by the hydropower production area of ​​the project,' the agreement states. 'The second party will provide the first party with the said 10 percent shares as per the previous agreement.' It was agreed to increase the 6 percent as per the agreement of 2071.09.09 by 4 percent to a total of 10 percent.'

This is the agreement letter

It has also been agreed to provide Bhotekoshi Rural Municipality with an annual amount of 25 million rupees in addition to the previous amount given to it as social responsibility. The agreement states that no one will claim the amount previously given under various titles.

The Bhotekoshi Hydropower Project under the Bhotekoshi Power Company, which started electricity production in 2057, had stopped production after a mob in the project area demanding that 10 percent shares be given to the affected residents for free.

During the Gen-G movement, residents of the affected area had written to the Bhotekoshi Company stating that they were Gen-G since last Bhadra 25. After they entered the power house and staged a sit-in, the production machine was stopped citing security reasons. The letter written in the name of Gen-G stated that the Bhotekoshi Project itself would be responsible for the damage if their demands were not met. After receiving the threatening letter, all the employees left the project. The project is now under the protection of the Nepali Army.

In the presence of local political parties, an agreement was reached in 2071 Paush to give 6 percent shares to those affected by the project. However, due to the earthquake and floods, the production of the project could not be carried out regularly until 2076. After the agreement, the earthquake and floods damaged the structure of the project, and production stopped for a few years. At that time, the project suffered huge losses. Locals say that a new situation has now been created because the leaders who made the agreement and local people's representatives did not show interest in receiving the shares even after that. There have been public allegations that the party leaders neglected to implement the agreement due to financial temptation.

The demand has now been put forward in the name of Gen-G, saying that the people's representatives did not raise the issue of shares after the local elections. Taking advantage of the Gen-G movement, the affected people have stopped production by demanding 10 percent shares instead of 6. The share of the American company that invested in the project is now only 5 percent. 95 percent of the shares are held by Nepali investors. After the American investor Panda Energy Company sold its investment, Tara Management of Nepali businessman Siddharth Shamsher Rana bought the shares. There was no provision for giving shares to locals when the project was built. Bhotekoshi is a private company. The project will now hand over 50 percent to the Electricity Authority after 5 years and the entire government after another 6 years.

After being unable to withstand the pressure of sit-ins, gheraos and slogan rallies, Bhotekoshi Power Company had reached an agreement to provide shares to the locals as demanded. On October 2, an agreement was reached between the local administration, protesters, and Bhotekoshi Company to provide the shares as demanded. It was mentioned that the company's board would have to approve it. During the agreement, there was a clash between the group of Bhotekoshi Rural Municipality Chairman Pasang Nurpu Sherpa and the protesters. The agreement states that the shares as demanded will be provided, but the agreement will be implemented only after the company board accepts the agreement. It was agreed that the project would generate electricity only after the agreement is accepted. Company representatives were also present in the agreement. However, company sources claim that the locals forced them to sign the agreement by creating a ruckus.

During the talks held at the Bhotekoshi Rural Municipality building in Sindhupalchowk near the project site, the project employees were afraid as even the police could not control the situation after the ruckus. The municipality was also vandalized. The company believes that they were forced to sign an agreement to give away their private property for free when the country was in an unusual situation due to the Gen-G movement.

The company is not ready to accept the demand for 'free shares' rather than just giving shares. The agreement mentioned that the company would produce electricity only from the date the agreement was authorized/recognized by Bhotekoshi Company. The last point of the agreement states, 'It has been agreed to operate the power plant from the date the other party provides authorization/recognition in this regard.'