Nepal Water & Energy Development Company Pvt. Ltd. (NWEDC) is an energy utility company specialized in hydropower development and was established with an intention of encouraging foreign investment to work in the area of hydropower in Nepal.

NWEDC is a Special Purpose Vehicle through which KOEN, KIND, IFC (World Bank Group) and a local partner have been developing Upper Trishuli-1 (UT-1) Hydroelectric Project.

The 216 MW UT-1 Hydroelectric Project located in Rasuwa District of Nepal will annually generate 1456 GWh  of hydroelectricity and supply to the National Grid of Nepal.