Mandu Hydropower Limited (Mandu) was incorporated in 2006 with an objective of hydroelectricity generation through optimal utilization of Bagmati River and other resources within the country. Nepalese promoters holds majority ownership with 51% including 10% equity ownership of affected area shareholding. Remaining 49% shareholding is from Chinese Investor.

Mandu owns and operates 22 MW power plant commissioned on 2075/12/19 and located in Makwanpur district.. It sales electricity to NEA at the long term PPA price. The annual energy generation from the plant is about 128.092 GWh.