Nepal Investment Summit: Energy for Economic Prosperity

Kathmandu, March 29. Minister for Energy, Water Resources and Irrigation, Barshaman Pun, has said that the government has put energy in top priority as the sector is the major basis of country’s economic transformation. Addressing a session on ‘ Energy for Economic Prosperity’ in the ongoing Nepal Investment Summit 2019 here today, Minister Pun said that the government has set a target to produce 15,000 megawatt power within next 10 years and export 5,000 MW.

He said that the government has created investment-friendly environment by making policy-level reforms. Sharing that the government has started people’s hydropower programme with a target to construct some projects with local investment, Minister Pun said that the government has been taking initiatives to bring in foreign investment in big projects.

Minister Pun clarified that projects like Dhalkebar-Mujjaffarpur transboundary transmission line has been forwarded, while urging the foreign investors to invest in hydropower sector of Nepal as it is the important foundation for the development of South Asia.

National Planning Commission member Dr Krishna Prasad Oli stressed the need for constructing watershed hydropower projects to reduce impact of climate change. Stating that a bilateral mechanism has been set up for exchange of cooperation among neighbours China, India and Bangladesh, he said efforts were underway to export Nepal’s electricity to the regional market.

Executive director of the Nepal Electricity Authority Kulman Ghising said efforts were afoot to achieve the government’s goal to produce 3,000 megawatts electricity in next three years, 5,000 MW in five years and 15,000 MW in 10 years.

He also said projects of 16,000 MW are at various phases of construction. Chief Engineer of Bangladesh Power Development Board Mohabubur Rehman said that the country had been importing 15 per cent of its total demands from neighbouries countries, and that Nepal could be an appropriate source for it.

He shared that Bangladesh targeted to import 9,000 MW of power from Nepal by 2040 and that 500 MW was being purchased from the Upper Karnali Hydropower Project.

General Manager of Power China Sang Dong Sen said China is looking forward to invest in Nepal under the one belt one road initiative, as well as in the energy sector of the country.
Likewise, Secretary of Central Power Regulatory Commission of India Sanoj Kumar Jha said that India had developed a master plan on transborder power trade for the development of power in Nepal, Bangladesh and Bhutan.