President of the Independent Power Producers Association of Nepal (IPPAN) Ganesh Karki has urged Indian investors to invest in Nepal in the energy sector. Speaking on the occasion of the Nepal-India Energy Summit held in the New Delhi, the capital of India on last week, Karki said that the Government of Nepal has recently set an ambitious target of generating 28,500 MW of electricity from hydropower plants by 2035.That plan requires an investment of $46.5 billion, so there is a golden opportunity for investment in Nepal.
Around 3500 MW of electricity from hydropower plants has been generated in Nepal so far as per their installed capacity. The private sector engaged in hydropower business started generating electricity since 2000, is around 80 percent of total installed capacity, he mentioned.
While Nepal and India are currently exchanging 1000 MW of electricity, a long-term agreement has been reached to increase it to 10,000 megawatts within the next 10 years. Projects worth 5,000 megawatts are underway in Nepal with the investment of Indian companies, and additional projects worth thousands of megawatts will require Indian investment. Karki said elaborated.
According to a preliminary study conducted by the Nepal Investment Board, Nepal’s solar power generation capacity is more than 4.32 GW, so Nepal could be an attractive destination for Indian investors in solar energy as well, Karki added.
He also informed that Nepal is interested in partnering with major Indian business houses such as Adani Group, Tata Power, Jindal Power, GMR Group, SJVN Limited, and NHPC.
Nepal can be developed into a country that meets the increasing energy demand in the regional market by turning Nepal’s abundant hydropower generation potential into a reality, Karki further said.
IPPAN vice president Anand Chaudhary also elaborated the power projects scenario in Nepal, while giving a presentation on the occasion. He also briefed Indian investors about 3 dozen large and attractive hydropower projects in Nepal, both private and government-owned.
Chiranjivi Chataut, joint secretary at the Ministry of Energy, Water Resources and Irrigation, said that the government has put forward 28,500 He urged all major Indian investors to invest in Nepal with confidence as the ministry will facilitate many things to achieve the megawatt electricity generation target.
He said that there is a suitable policy for electricity generation, a 400 kV AETA transmission line between Nepal and India is in operation and 2 more lines are under construction, so adequate infrastructure is ready for electricity generation and exchange.
Chataut urged all major Indian investors to invest in Nepal as Nepal’s hydropower policy is suitable and excellent for protecting investors.
The Nepali Embassy in India and IFGE organized an event under the slogan “Exploring Investment Opportunities in Hydropower and Renewable Energy Sector”. The conference was organized by the Indian Federation of Green Energy (IFGE) and was held with the institutional participation of IPPAN.
