Calling to raise investment in the hydropower sector, the two-day Power Summit 2019 concluded here today.
The seventh edition of the Power Summit – organised by the Independent Power Producers’ Association-Nepal (IPPAN) with the theme of ‘Powering the Asian Century’ – witnessed call from the government to raise investment in the hydropower sector and commitment from domestic and foreign investors to unleash hydropower potential.
The participants – on the occasion – also asked the government facilitates investment through friendly policies.
Addressing the summit, finance minister Dr Yuba Raj Khatiwada said that it is the appropriate time for investors to invest in Nepal’s hydropower sector. Citing that development works in Nepal are being carried in line with the Sustainable Development Goals (SDGs), he also urged investors to invest in renewable energy and reap the benefits. “The government wholeheartedly welcomes investors in the hydropower and other sectors and assures that investors will be facilitated by all means.”
Amid rumours that Nepal does not have enough market for the surplus energy that the country will produce in the near future, Khatiwada said that the government will make sure that the generated power will not have any problem to find market. “The domestic consumption of energy will be increased through different means including electric vehicles that the government is promoting, and encouraging people to increase electricity consumption in household activities.”
“The government is also focusing on external market for surplus energy to export,” Khatiwada added.
Likewise, transport minister Basanta Kumar Nembang – addressing the closing ceremony – said that bilateral and multilateral coordination in the power sector in the South Asian region is crucial to assure necessary market for energy produced in Nepal. “Nepal aims to produce 10,000 megawatts of electricity in the future, and the government is seeking a regional market for power export through political and government-to-government dialogues,” he said.
During the closing ceremony, Indian government-owned NHPC Ltd and Hydroelectricity and Investment Company Ltd (HIDCL) of Nepal reached two different agreements on investing in the power sector, according to the IPPAN. Likewise, Indian Energy Ltd and IPPAN also shared a memorandum of understanding (MoU) to invest in the hydropower sector of Nepal. On the occasion, various other agreements were inked between power producers of Nepal and from India, Bangladesh and Bhutan.
The seventh edition of the Power Summit – organised by the Independent Power Producers’ Association-Nepal (IPPAN) with the theme of ‘Powering the Asian Century’ – witnessed call from the government to raise investment in the hydropower sector and commitment from domestic and foreign investors to unleash hydropower potential.
The participants – on the occasion – also asked the government facilitates investment through friendly policies.
Addressing the summit, finance minister Dr Yuba Raj Khatiwada said that it is the appropriate time for investors to invest in Nepal’s hydropower sector. Citing that development works in Nepal are being carried in line with the Sustainable Development Goals (SDGs), he also urged investors to invest in renewable energy and reap the benefits. “The government wholeheartedly welcomes investors in the hydropower and other sectors and assures that investors will be facilitated by all means.”
Amid rumours that Nepal does not have enough market for the surplus energy that the country will produce in the near future, Khatiwada said that the government will make sure that the generated power will not have any problem to find market. “The domestic consumption of energy will be increased through different means including electric vehicles that the government is promoting, and encouraging people to increase electricity consumption in household activities.”
“The government is also focusing on external market for surplus energy to export,” Khatiwada added.
Likewise, transport minister Basanta Kumar Nembang – addressing the closing ceremony – said that bilateral and multilateral coordination in the power sector in the South Asian region is crucial to assure necessary market for energy produced in Nepal. “Nepal aims to produce 10,000 megawatts of electricity in the future, and the government is seeking a regional market for power export through political and government-to-government dialogues,” he said.
During the closing ceremony, Indian government-owned NHPC Ltd and Hydroelectricity and Investment Company Ltd (HIDCL) of Nepal reached two different agreements on investing in the power sector, according to the IPPAN. Likewise, Indian Energy Ltd and IPPAN also shared a memorandum of understanding (MoU) to invest in the hydropower sector of Nepal. On the occasion, various other agreements were inked between power producers of Nepal and from India, Bangladesh and Bhutan.
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