Mistri Khola Hydroelectric Project (MKHEP or Project) is a run-of- the-river type project on the Mistri Khola, a major tributary of the Kaligandaki River. It is located in Myagdi district of Nepal.

The project has an installed capacity of 42 MW (3x14 MW) with design discharge of 17.1 m3/s and net head of 285 m. The project site is about 100 km northwest of Pokhara. The headworks site is located approximately 70 m downstream of the confluence of Nilgiri and Ghalemdi Rivers, and about 8 km north of Tatopani Bazaar. The powerhouse site is located very close to Tatopani Bazar at the lower end of Narchyang village on the left bank of Kaligandaki River after its confluence with Mistri Khola. The headrace tunnel is 2289 m long shotcrete lined (partially concrete lined) with finished diameter of 4 m, and inverted D in shape. A concrete lined surge shaft is located about 40 m upstream of the outlet portal. The steel penstock is 1415 m long 2.15 m/ 2.05 m dia upto bifurcation. The pipe then splits into three branch pipes of 1.2 m dia with a combined length of 240 m to feed three turbines in the powerhouse.

The powerhouse, located on the left bank of Kaligandaki River, is a surface structures which houses three 14 MW vertical axis pelton turbines and the corresponding generating units. The switchyard is located in the upper terrace of the powerhouse back-slope. A 132 kV 4 km long transmission line connects the switchyard to the proposed 220kV Dana Sub-station.

The project will generate about 239 GWh of energy annually and will be sold to Nepal Electricity Authority based on the Power Purchase Agreement signed on 2067 Magh 20 amended on 2075 Baishak 26.

The main project construction works of Mistri Khola Hydroelectric Project started from June 2016. About 90 % construction works has been completed by the end of Ashwin 2076