API Power Company MD Shashwat Chalise Appointed

24th March 2026, Kathmandu

The API Power Company MD announcement has confirmed a pivotal leadership transition for one of Nepal’s leading renewable energy firms.

API Power Company MD

Following a board meeting held on Chaitra 9, 2082 (March 22, 2026), the company officially appointed Shashwat Chalise as its new Managing Director. This strategic move aims to ensure institutional stability after the departure of long-time executive leader Sanjiv Nyaupane, who steered the company through several major project commissions.

Details of the Leadership Transition

The API Power Company MD change was triggered by the formal resignation of Sanjiv Nyaupane on Chaitra 8, 2082. Nyaupane, who has been instrumental in expanding the company’s portfolio to 62.5 MW, cited increasing professional commitments for his decision to step down from the operational helm.

Shashwat Chalise: Previously serving as a Director, Chalise now takes over executive duties. His background in strategic management and established tenure on the board is expected to facilitate a seamless transition.

Sanjiv Nyaupane: While stepping down as Executive Director, he will retain his seat on the Board of Directors, allowing the company to continue benefiting from his technical expertise and industry experience.

API Power’s Growing Asset Portfolio

The new API Power Company MD inherits a robust infrastructure network that spans both hydroelectric and solar energy. As of early 2026, the company has successfully integrated several major projects into Nepal’s national grid:

Hydropower Projects:

• Mathilo Chameliya (40 MW): In operation since August 2023.
• Naugarh Gad (8.5 MW): The company’s pioneer project in operation since 2015.
• Upper Naugarh Gad (8 MW): Operational since 2019.

Solar Energy Projects:

• Chandranigahapur (4 MW): Located in Rautahat.
• Dhalkebar (1 MW): Located in Dhanusha.
• Simara (1 MW): Located in Bara.

Future Roadmap and Strategic Goals

Under the leadership of Shashwat Chalise, the API Power Company MD office is expected to focus on a series of high-impact expansion projects and institutional milestones.

Advertisement

Marsyangdi Besi Hydropower: Utilizing proceeds from recent right share issuances to accelerate construction on this key capacity-building project.

API Tower Construction: Overseeing the completion of the new central office in New Baneshwor, Kathmandu, which serves as a symbol of the company’s 22-year legacy and institutional strength.

Green Hydrogen Initiative: Moving forward with the Memorandum of Understanding (MoU) signed with GreenZo Energy to develop 50 MW green hydrogen plants across Nepal.

Subsidiary IPOs: Preparing affiliated companies like Suryakund Hydro and Darchula Power for potential public listings to further diversify the group’s capital.

Corporate Governance and Stability

The appointment of Shashwat Chalise as the API Power Company MD is a clear signal to shareholders and the Nepal Stock Exchange (NEPSE) that the company prioritizes continuity. By promoting from within the board, API Power minimizes the “leadership vacuum” risk typically associated with executive resignations in the energy sector.

Transparency: The company remains one of the most active traded entities (Ticker: API) and continues to hold regular AGMs to keep investors informed.

Institutional Identity: The transition happens at a time when the company’s asset base has grown by over 60% in the last four years, reaching approximately NPR 14.49 billion.

Conclusion

The appointment of Shashwat Chalise as the API Power Company MD marks the beginning of a fresh chapter for Nepal’s renewable energy pioneer. While the resignation of Sanjiv Nyaupane ends a significant era of operational growth, the board’s quick action to appoint Chalise ensures that ongoing projects like the API Tower and the Marsyangdi Besi project remain on track. As Nepal pushes toward energy self-reliance, API Power’s new leadership will be crucial in steering the company through the complexities of the 2026 energy market.

For More: API Power Company MD