Hydropower Index Falls More Than 2.5%, as Rasuwa Flood Damages Hydropower Infrastructure
Summary
Hydropower shares fell sharply after a major flood in Rasuwa raised concerns about damage to projects and infrastructure. Rasuwagadhi Hydropower and Chilime Hydropower led the decline as authorities assessed the extent of the impact.
Key Points
- The Hydropower Index fell 2.5% to 3,576.50 by 11:59 AM after flood-related selling pressure hit the market.
- Rasuwagadhi Hydropower Company Limited dropped 13.42%, while Chilime Hydropower Company Limited fell 7.39%.
- A major flood entered the Bhote Koshi River in Rasuwa from the Tibet side and damaged settlements and hydropower projects in Syabrubesi and Timure.
- Authorities have warned communities along the Bhote Koshi and Trishuli rivers to stay on high alert while damage assessments continue.
