API Power Company aggressive in developing hydropower and solar power project,more than 140 MW is in Pipeline

As per the published unaudited fourth quarterly report, the company has increased its paid up capital from Rs 100 crore to Rs 105 crore from corresponding quarter of FY 2072/73 while its reserve and surplus has also grown by 32 percent from Rs 6.71 crore to Rs 8.86 crore. The income generated from the sales of electricity stood at Rs 13.81 crore and its net worth per share is at Rs 108.44. As per the press release sent by the company, API  has made an investment of Rs 5 crore in Arun Kabeli Hydropower Company of 25 MegaWatt (MW) which will start producing electricity from this year while its Rs 7 crore is invested in API Mechanical Hydropower Company. It is a remarkable accomplishment for API that they completed Naughar Gad Hydroelectricity (8.5MW) project in just matter of 17 months. The company has notable hydroelectricity project stake in Mahakali and Darchula District i.e Naughar Gad Hydroelectricity (8.5 MW, in operation since 2015), Upper Gad Small Hydroelectricity project (8MW, under construction) and Upper Chameliya Hydroelectric Project (40 MW, under DPR preparation). The company is yet to get approval from SEBON (Security Board of Nepa) to issue  1:2 right share to its current shareholder with paid up capital of Rs105 crore.The future investment plan for the company consists of Trisuli Galchi Project of 75 MW worth Rs100 crore and 18 Mw Solar installation project worth Rs.105 crore. As of now, the company has already received the surveillance license and agreement on sales of electricity for the solar project while the acquisition of land for the 40 MW Upper Chameliya has already started. Sanjeev Neupane, Managing Director of API power House Company has said,”The Company’s electricity producing capacity will increase from 8.5 Mw to 34.5 MW after completion of Upper Naughar Gad Small Hydroelectricity project and different solar projects.” Likewise, the company aims to increase earning for the shareholders in future through these projects.