Bhagawati  Hydropower Development Company Ltd. was established on 3rd of Poush 2057 B.S. to develop, construct and operate hydroelectricity projects in Nepal. It has been operating and contributing to the national production of electricity since 2069 B.S..

The company was converted to a public limited company on 6th of Baisakh 2075 B.S.. The company operates Bijaypur -1 small hydropower project which is a 4,500 KW Run of River (ROR) hydropower plant located on the Bijaypur river in Pokhara.

The company has a license to operate and produce electricity for 30 years from the date of commercial operation (5 Bhadra, 2069 B.S.) of the project.