Kathmandu, April 25: The Nepal government has accorded top priority to the development of the hydropower sector and aims to export 10,000 MW of hydropower to India in the next decade, President Ramchandra Paudel said on Thursday.
Nepal wants to contribute towards promoting renewable and green energy in our neighbouring market by harnessing its immense hydro-potentiality, said Paudel while inaugurating the three-day Himalayan Hydro Expo 2024 at Bhrikutimandap here.
The Nepal government is moving ahead in collaboration with the private sector by pursuing the aim to export 10,000 MW of hydroelectricity to India in the next ten years as per the bilateral agreement reached between the two countries a few months ago, he said.
He urged the government to make necessary legal reforms so that both the private sector within the country, as well as foreign investors, may find a conducive environment to invest in the hydropower sector.
The economic prosperity and development sought by the people of Nepal is only possible if we can encourage the investors by creating an investment-friendly environment, he said.
The Nepal government is pursuing an ambitious plan to generate 28,700 megawatts of electricity by 2035 and framing a concrete action plan in the context, informed Minister for Energy, Water Resources and Irrigation Shakti Basnet on the occasion.
Nepal is currently producing around 3,300 MW of electricity, which makes it possible to export surplus energy to India in the rainy season. Last year, Nepal earned nearly INR 15 billion by exporting hydro-electricity to India.
Calling foreign investors to invest in Nepal’s hydropower sector, Basnet assured that the government is working towards bringing legal reforms to create a conducive environment for foreign investment.
Nepal is planning to generate 28,000 MW of hydropower in the next 12 years, out of which 10,000 will be exported to India, 5,000 to Bangladesh, and the remaining 12,000 for domestic consumption, remarked Mohan Kumar Dangi, Vice President of the Independent Power Producers Association Nepal (IPPAN), the main organiser of the event.
The hydropower expo is being organised ahead of the Nepal Investment Summit scheduled for April 28-29 in Kathmandu showcasing around 146 projects to lure foreign investors.
More than 500 foreign investors from across the world including India, China, USA and European countries have confirmed their participation in the third investment summit. (PTI)
