Upper Naugad Gad Obtains Generation License

January 2: Upper Naugad Gad Hydropower Project being developed by Api Power Company has obtained generation license from Department of Electricity Development.

The 8MW capacity project is a second project of Api Power. Before this, Api developed 8.5MW Naugad Gad Small Hydropower project and connected to national transmission line. The company has already concluded power purchase agreement (PPA) for produced electricity with Nepal Electricity Authority (NEA). Nepal SBI and Prabhu Bank are handling financial management of the project. According to the company, it will be functioning as per a plan of concluding the project within 17 months.