A two-day summit on power began here on Thursday with an aim to serve as a platform for regional cooperation on hydropower generation and electricity trade.
Inaugurating the International Power Summit 2019, Nepalese Energy Minister Barshaman Pun said, Nepal has set a target of generating 15,000 hydropower within the next decade not only for domestic consumption but also exporting surplus energy to other South Asian countries, including India.
At a time when the region is facing challenges of climate change and environmental degradation, Nepal with its abundant hydropower potential, offers clean energy to the region, Pun said.
Nepal is committed in generating reliable energy at competitive price and encourages joint investment and sub-regional cooperation in the area of hydropower, he added.
India is undoubtedly a reliable and sincere partner for Nepal in energy sector, Indian Ambassador to Nepal Manjeev Singh Puri said.
The 5,000 MW capacity Mahakali project of Nepal, if implemented, can not only produce clean energy for export but it would be a game changer, as it can bring economic prosperity to Nepal, he pointed out.
On the occasion, World Bank’s country representatives to Nepal Faris Hadad Zerous said,”World Bank supports Nepal governmnet’s vision to provide quality energy to each and every household. The dream of attaining happy Nepali and prosperous Nepal cant be fulfilled without harnessing Nepal’s abundant hydro potential.”
The summit has brought together key governmental and private sector stakeholders of BBIN (Bangladesh, Bhutan, India and Nepal) region for discussion on regional electricity trade in a single platform.
The summit is being attended by experts and officials from Nepal, India China, Bhutan, Norway, Korea, Canada, Netherland, United Kingdom, USA and Japan. Similarly, Nepal’s key development partners such as ADB, World Bank, IFC, DFID, USAID are also attending the summit.
The summit with a tag-line of “Power the Asian Century” is being organised by IPPAN ( Independent Power Producers’ Association of Nepal) in collaboration of Government of Nepal, Ministry of Energy and Water Resources.
“Considering the fact that we have around 3,000 MW power projects under construction, another 3,000 MW preparing for construction, and additional 18,000 MW power projects under study, Nepal needs to explore for markets and expand within and beyond its border,” the IPPAN said in a press release.