Nepal seeks Russian investment in energy sector

KATHMANDU, MARCH 4: Russia's Ambassador to Nepal, Aleksei Novikov, paid a courtesy call on the Minister for Energy, Water Resources, and Irrigation today.

During the meeting at the Minister's office in Singha Durbar, both sides discussed matters of mutual interest and cooperation. The Minister acknowledged the Russian government's support in human resource development in Nepal and recalled the construction of the Panauti Hydropower Project, which was built with financial assistance from the former Soviet government.

Informing the ambassador about Nepal’s goal of generating 28,500 megawatts of power by 2035, the Minister expressed hope for Russian cooperation in achieving this target. He also urged Russian companies, through the ambassador, to invest in Nepal’s transmission lines, energy storage, smart grid, and green energy sectors.

In response, the ambassador stated that Russian business communities are keen on expanding investments in Nepal’s energy and hydropower sectors. He also invited the Minister to the Nevsky International Ecological Congress, scheduled for next month in Russia, the St. Petersburg International Forum in June, and Russian Energy Week in October.