Api power acquire license for power survey of Upper Chameliya

Kathmandu March 2- Energy Ministry of Nepal Government have granted survey license to Api Power Company for electrical survey of Upper Chameliya with capacity of 40MW. Recently, company has connected 8.5MW electricity production of Nougadh Gaadh River in national transmission line. Company has announced that after settling power purchase agreement within a year, company will commence construction of 8MW Upper Nougadh Gaadh.

As both of the projects are situated in same district i.e. in Darchula, company expects to finish the constructions more rapidly. Company will solely invest in these projects and Nepal electricity authority will connect the production through substation of Balache.

Far western mountainous districts of Nepal have seen minimal of load shedding due to the completion of construction of 8 MW project of the company. Presently, company has Rs. 1000million paid up capital. Company has anticipated Rs. 8000 million cost to complete these two projects. Company is planning to finance these projects through 70% bank finance and 30% public finance. Company will commence construction of these two projects simultaneously within this year.