Minister for Energy, Water Resources and Irrigation Barshaman Pun said that the utilisation of available resources is a must to make electricity affordable.
Addressing Power Summit 2019 in Kathmandu today, he said that resources available in the region must be utilised to optimise power systems and reduce electricity tariff due to the varying supply and demand pattern of the individual countries in the South Asian region. He also stressed the need to upgrade bilateral cooperation to sub-regional cooperation in the form of Bangladesh-Bhutan-India-Nepal (BBIN). “We shall now be working together to establish an inter-regional electricity grid interconnection,” he said, adding that energy development is crucial for Nepal’s economic development. “Nepal government is committed to attract foreign investment in the energy sector.”
Nepal will generate 5000 megawatt electricity once some of the ongoing hydropower projects are completed in couple of years. Meanwhile, Nepal's current electricity demand is only 1320 megawatt and the rest could be exported through the regional grid. Pun said that Nepal's major electricity markets are India and Bangladesh.
Around 70 experts including representatives from governmental and private sector, from India, China, Bangladesh, Bhutan and Nepal are making their presentations during the two-day event – organised by Independent Power Producers’ Association, Nepal (IPPAN) – with the theme ‘Powering the Asian Century’. The summit is also expected to create the basis for formal and informal dialogues for propelling Nepal toward becoming an eminent producer of energy for South Asian region.
Speaking on the occasion IPPAN president Shailendra Guragain said that the future that power producers are seeking is about abundant, reliable, clean and affordable power that is traded across boundaries to help boost the local economies and the quality of life of the people.
Likewise, addressing the Power Summit, minister of State for Power, Energy and Mineral Resources of Bangladesh Nasrul Hamid said that South Asia region was now looking for affordability after ensuring availability and reliability of energy.
He said that tariffs, terms and conditions of Power Purchase Agreement (PPA) with GMR has been finalised for the import of 500 MW power to Bangladesh from 900 MW Upper Karnali Hydropower project.
Similarly, chief executive officer of GMR Energy S N Barde, on the occasion, said that his company faced hurdles in terms of regulations and other issues regarding transmission while signing the first trilateral agreement. “But they were eventually resolved,” he added.
Hydroelectricity Investment and Development Company Ltd (HIDCL), Nepal and NHPC Ltd, India, and Indian Energy Exchange and IPPAN signed separate memorandums of understanding (MoU) for development of energy sector, on the sidelines of the summit.
The event – that will close tomorrow – will feature panel discussions on regional trade and connectivity, electricity markets, necessary regulations, financing, attracting investments and sustainable practices, according to IPPAN.
Addressing Power Summit 2019 in Kathmandu today, he said that resources available in the region must be utilised to optimise power systems and reduce electricity tariff due to the varying supply and demand pattern of the individual countries in the South Asian region. He also stressed the need to upgrade bilateral cooperation to sub-regional cooperation in the form of Bangladesh-Bhutan-India-Nepal (BBIN). “We shall now be working together to establish an inter-regional electricity grid interconnection,” he said, adding that energy development is crucial for Nepal’s economic development. “Nepal government is committed to attract foreign investment in the energy sector.”
Nepal will generate 5000 megawatt electricity once some of the ongoing hydropower projects are completed in couple of years. Meanwhile, Nepal's current electricity demand is only 1320 megawatt and the rest could be exported through the regional grid. Pun said that Nepal's major electricity markets are India and Bangladesh.
Around 70 experts including representatives from governmental and private sector, from India, China, Bangladesh, Bhutan and Nepal are making their presentations during the two-day event – organised by Independent Power Producers’ Association, Nepal (IPPAN) – with the theme ‘Powering the Asian Century’. The summit is also expected to create the basis for formal and informal dialogues for propelling Nepal toward becoming an eminent producer of energy for South Asian region.
Speaking on the occasion IPPAN president Shailendra Guragain said that the future that power producers are seeking is about abundant, reliable, clean and affordable power that is traded across boundaries to help boost the local economies and the quality of life of the people.
Likewise, addressing the Power Summit, minister of State for Power, Energy and Mineral Resources of Bangladesh Nasrul Hamid said that South Asia region was now looking for affordability after ensuring availability and reliability of energy.
He said that tariffs, terms and conditions of Power Purchase Agreement (PPA) with GMR has been finalised for the import of 500 MW power to Bangladesh from 900 MW Upper Karnali Hydropower project.
Similarly, chief executive officer of GMR Energy S N Barde, on the occasion, said that his company faced hurdles in terms of regulations and other issues regarding transmission while signing the first trilateral agreement. “But they were eventually resolved,” he added.
Hydroelectricity Investment and Development Company Ltd (HIDCL), Nepal and NHPC Ltd, India, and Indian Energy Exchange and IPPAN signed separate memorandums of understanding (MoU) for development of energy sector, on the sidelines of the summit.
The event – that will close tomorrow – will feature panel discussions on regional trade and connectivity, electricity markets, necessary regulations, financing, attracting investments and sustainable practices, according to IPPAN.
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