CNI meets Energy Minister Basnet to urgently open power purchase agreements

428

The Confederation of Nepalese Industries (CNI) recently engaged in a crucial discussion with Shakti Bahadur Basnet, the Minister of Energy, Water Resources, and Irrigation, to address pressing issues related to the country’s economy and energy sector.

Led by their newly elected president, Rajesh Kumar Agarwal, the CNI officials met with the minister on Friday to discuss a range of topics. One of the key points raised by Agarwal was the urgent need to open Power Purchase Agreements (PPA) for hydropower projects.

He emphasized that India had committed to purchasing 10,000 megawatts of electricity over the next decade, and to facilitate this, the PPA for hydropower projects should be fully opened, while creating a conducive environment for construction.

In addition to this, Agarwal urged for a restructuring of the Nepal Electricity Authority and the development of robust transmission lines. He also stressed the importance of involving the private sector in electricity trading. Agarwal pointed out the disparity between electricity exports and the struggle domestic industries face in accessing electricity, which has led to an increase in production costs for the industries.

Minister Basnet expressed his commitment to collaborating with the private sector to ensure overall energy development. He acknowledged the significant investment required to generate 10,000 megawatts of power, estimated at around 20 trillion, and highlighted its potential far-reaching impact on the economy.

During the discussion, CNI vice presidents Birendra raj Pandey and Amit More actively participated, contributing their insights on the matter.

Source: Republica