Nepal has set a tentative plan to generate 10,000 MW of hydropower within the next ten years to meet the growing demand for electricity in the country.
The government has announced National Energy Crisis Reduction and Development Decade 2016-2026, with the projection that there will be a demand of 10,000 mw electricity after 10 years," Prime Minister Prachanda said, inaugurating Power Summit 2016 .
The programme was organised under the theme of 10,000 MW in 10 Years by the Independent Power Producers' Association, Nepal (IPPAN), in which the Prime Minister was the chief guest.
The government will encourage private sector interested in investing in energy sector, he said. "We want to work in collaboration with the private sector in the generation of power and construction of transmission line."
"The Government has accorded high priority to the timely completion of the designated projects of national pride that includes some of the key hydro-power projects, such as Upper Tamakoshi and Chameliya," the Prime Minister said.
"We are promoting multi-purpose power projects with the view of bringing in technical expertise, attracting investment, creating job opportunities, and emphasising energy security which would also reinforce environment friendly development approach," he said.
"Nepal and India have signed power trade agreement and committed to take measures to operationalise the agreement. The government has taken initiative to engage diplomatically with the Government of India to remove constraints arising from recently issued power purchase guidelines in India," the Prime Minister said.
The timely completion of transmission lines and hydro-power generating projects is important for smooth distribution of power and avoiding load-shedding when the life of the people is severely affected by the power crisis, he added.
The government has emphasised on the expeditious implementation of major power development projects specifically Pancheswar, Upper Karnali, and Arun III.
It is committed to supporting both the domestic private sector and foreign investors both through policy of encouraging investment and facilitating the implementation of projects, he said.
"Political stability is a must for attaining economic progress for any country," he added.
Speaking on the occasion, Energy Minister Janardan Sharma insisted on the slashing in the interest of banking loans to find a ground for boosting up investment in hydropower sector.
More than 250 representatives from Nepal, India, China, Bangladesh, Norway and Australia attended the Summit.
Source- Business standard