Kathmandu, Apr 25 (PTI): President Ramchandra Paudel announced on Thursday that the Nepal government has prioritized the development of the hydropower sector, aiming to export 10,000 MW of hydropower to India in the next decade.
“In line with our commitment to promoting renewable and green energy in our neighboring market, Nepal is harnessing its immense hydro-potentiality,” said Paudel during the inauguration of the three-day Himalayan Hydro Expo 2024 at Bhrikutimandap.
Paudel emphasized that the Nepal government, in collaboration with the private sector, is actively pursuing the goal of exporting 10,000 MW of hydroelectricity to India over the next ten years, as per the bilateral agreement reached between the two countries a few months ago.
He called upon the government to enact necessary legal reforms to create a conducive environment for both domestic and foreign investors in the hydropower sector.
“The economic prosperity and development sought by the people of Nepal can only be achieved by encouraging investors through an investment-friendly environment,” he added.
Minister for Energy, Water Resources, and Irrigation Shakti Basnet, speaking on the occasion, informed that the Nepal government is pursuing an ambitious plan to generate 28,700 megawatts of electricity by 2035 and is developing a concrete action plan in this regard.
Nepal, currently producing around 3,300 MW of electricity, aims to export surplus energy to India during the rainy season. Last year, Nepal earned nearly INR 15 billion by exporting hydro-electricity to India.
Basnet invited foreign investors to invest in Nepal’s hydropower sector, assuring them that the government is working towards legal reforms to create a conducive environment for foreign investment.
Mohan Kumar Dangi, Vice President of the Independent Power Producers Association Nepal (IPPAN), stated that Nepal plans to generate 28,000 MW of hydropower in the next 12 years, with 10,000 MW earmarked for export to India, 5,000 MW for Bangladesh, and the remaining 12,000 MW for domestic consumption.
The hydropower expo precedes the Nepal Investment Summit scheduled for April 28-29 in Kathmandu, where around 146 projects will be showcased to attract foreign investors.
Over 500 foreign investors from India, China, the USA, European countries, and elsewhere have confirmed their participation in the third investment summit.
