NIC, NGP join hands to invest in Nepal

A New York-based company promoted by Nepalis has joined hands with Chicago-based company to provide clean and sustainable energy in Nepal.

The New York-based Nepal Infrastructure Consult (NIC) and Chicago-based renewable energy company New Generation Power (NGP) has signed a Memorandum of Understanding (MoU) aiming at enhancing infrastructure and clean energy projects in Nepal.

The New Generation Power aims at providing clean and alternative energy across the world, whereas Nepal Infrastructure Consult will represent the project and liaison with appropriate government, non-government and bi-lateral agencies on behalf of NGP in Nepal, according to president of NIC Suman Neupane.

The New Generation Power and its partners — Panasonic, Martifer Solar, Patriot Solar, Jones Lang LaSalle, Eaton Corporation, Toshiba and Talesun — have commissioned renewable energy projects in the fields of solar, biomass, wind, hydro, waste to energy and geo-thermal energy in various parts of the world.

Over 200 MW of renewable energy projects constructed by them are currently in operation, whereas over 3,000 MW of renewable energy projects are its pipeline in many parts of the world.

The NGP, in partnership with Wanxiang America Corp, is also developing a 62MW solar facility adjacent to the Rockford International Airport in Rockford, Illinois in the US.

Likewise, Nepal Infrastructure Consult — established with an objective of bringing potential small, medium and big investors in the US linking project holders, entrepreneurs in Nepal — aims at helping its clients bridge the gap between their infrastructure needs and financial resources by focusing on public private partnerships and innovative capital financing.

Chairman Dr Chirinjeev Kathuria and senior vice-president (International) Nisha Joshi of NGP and president of NIC Suman Neupane signed the MoU on behalf of their respective institutions