Api Power Company & NEA signs PPA for 75MW Trishuli Galchi Hydropower Project

Siddhakali Power Limited, a subsidiary project of Api Power Company Limited signed Power Purchase Agreement Nepal Electricity Authority yesterday ( Jestha 20, 2073). Siddhakali Power Limited is constructing 75MW Trishuli -Galchi Hydro-Electric Project. According to a press statement issued by the company yesterday it stated that Api Power Company Limited owns 80% of the total share of the Trishuli Galchi Hydropower Project. Trishuli Galchi Hydro-Electric Project is a 75MW hydropower project. The total cost of the project has been estimated to be Rs 14.40 arba in which shareholders’ investment is reckoned to be Rs 4.32 arba. Laxmi Bank is taking lead for consortium loan in this hydropower project. Group of India has accomplished the overall design of the hydropower project. At present the company has authorized capital of Rs 1.25 arba, issued capital Rs 1 arba and paid up capital Rs 1 arba. The company had constructed 8.5 MW Naugarh Gad Hydropower Project in the Naugarh Gad River within 17 months and has started constructing its cascade project which has capacity of 8 MW. The company also plans to issue right shares at the ratio 1:2 for which application has been forwarded to SEBON.