Established on June 19, 2003, Api Power Company (APC) was transformed into a public limited company on July 21, 2003. Besides producing hydroelectricity, generating power from renewable sources is the prime objective of this company. One of the major power companies supplying electricity to the national grid, APC's corporate office is located on the fourth floor of the Trade Tower at Thapathali, Kathmandu.
The company is registered at the Securities Board of Nepal (SEBON) and listed at Nepal Stock Exchange (NEPSE). The company which fully complies with corporate governance claims to be committed to creating value for all its stakeholders.
The company is especially known for developing hydropower projects in the geographically challenging far-western region of the country. For example, APC took only 18 months to build the 8.5 MW Naugad Gadh Hydroelectricity Project in Dethala village of Darchula district in the far-western region. The project started commercial production from August 19, 2015. After the successful completion of Naugad Gadh, the company has started the construction of another project of 8 MW capacity, five kilometres upstream of the same river.
APC also has a healthy stake in the 75 MW Trishuli-Galchhi Hydropower Project being developed by Siddhakali Power Company. The construction of this project has already begun.
Tapping Solar Power
APC is all set to generate electricity from solar power by establishing solar farms at eight various locations in the country - Chadrauta, Simara, Chandranigahpur, Parwanipur, Dhalkebar, Bardaghat and Kawasoti (two farms). The company won the tender announced by Nepal Electricity Authority (NEA) to build solar projects near NEA's substations at these places. "We are in the process to sign power purchase agreement (PPA) with NEA for these solar power projects," said Sanjiv Neupane, executive director of APC.
APC has made a net profit of Rs 44.47 million in the third quarter of the current fiscal year which is about three times more than the profit made in the same period of the last fiscal year. The company earned Rs 121.5 million from the sale of electricity in the current fiscal year.
The company's paid-up capital has increased by five percent in the fourth quarter to Rs 1.05 billion. The company's earning per share has been Rs 5.65. The company's special general meeting on April 10, 2017 decided to issue right shares. As a result, APC applied to the SEBON on May 10, 2017 to for the issuance of 20 million units of rights shares. Siddharth Capital is the issue manager of the company.