Statkraft, Eviny divest stakes in Nepalese hydropower company

Norwegian state-owned Statkraft AS and its subsidiary Eviny AS agreed to sell their respective 57% and 26% stakes in Himal Power Ltd., which owns the 60-MW Khimti Hydro Plant in Nepal.

Upon deal close, the companies' Nepalese project partner, Butwal Power Co. Ltd., will become the sole owner of Himal Power, Statkraft said in a Sept. 26 news release.

Khimti, Statkraft's first hydropower development outside Norway, is a run-of-river hydroelectric facility in the Bāgmatī province. The project began operations in 2000.

The divestiture is part of Statkraft's strategy to exit South Asia as it focuses on key markets in Europe and South America.

Eviny, a hydropower and electric vehicle charging company, is 43.4% owned by Statkraft. The remainder is owned by several municipalities in Norway and two local power and electricity companies.