On the eve of the Investment Summit in Nepal, the Independent Power Producers’ Association Nepal organised the Himalayan Hydro Expo 2024. The Expo was Inaugurated today by President of Nepal Ram Chandra Paudel in Kathmandu. The head of the State expressed that there are huge possibilities in Nepal to achieve prosperity through the rapid development of energy. The theme of the Expo is “Green Energy for Prosperity”.
President Paudel added that the Nepal Government has been attaching special priority to the energy sector, taking it as the main basis for Nepal’s economic prosperity. As a result of this, the increasing production of power in Nepal has been boosting the nation’s energy security. Nepal is transforming from an energy-importer country to an energy-exporting nation.
Referring to the fact that the Government of Nepal has already signed an agreement to export electricity to the neighbouring country India and has set a target of producing 15,000 megawatts of electricity by the year 2085 BS, the President said that both the government and the private sector have equal responsibility in this regard.
This expo has created a platform to bring all stakeholders involved in the energy development sector in one place and inspire them to move ahead for the same as well as to build an opportunity for collaboration and moving ahead together. President Paudel called on all domestic and foreign investors to move ahead by joining hands in green energy development. Similarly, Minister for Energy, Water Resources and Irrigation, Shakti Bahadur Basnet, mentioned that there is immense potential for the development of hydropower in Nepal and it is the important basis of the country’s prosperity.
The government has brought an action plan to produce 28,700 megawatts of electricity in the coming 12 years. The New Electricity Act in the offing is expected to support the hydropower development and the enhancement of investment in this sector. The government will further facilitate the land acquisition process, site clearance and other procedural hurdles. President of the Independent Power Producers Association, Nepal (IPPAN), Ganesh Karki, shared on the occasion that Rs 1300 billion has been already invested in hydropower projects. Hydropower development has played a significant role in economic growth and employment. Over 500,000 citizens including manual workers are presently employed in this sector.
In a video message, Canadian Ambassador to Nepal, Cameron MacKay, called for promoting the hydropower sector for Nepal’s prosperity. He pledged Canada’s support, offering its skills, knowledge, and experiences for the development of hydropower projects in Nepal. The Expo is scheduled to conclude on Friday.
Sweta Singh (Kathmandu)
