Nepal aims for 28,000 MW electricity by 2035, Emphasizes hydropower’s economic role

November 23, 2023, 02:39:35 PM |

KATHMANDU: Energy, Water Resources, and Irrigation Minister Shakti Bahadur Basnet emphasized the government’s systematic and purposeful initiatives for the comprehensive advancement of the country’s energy sector.

Speaking at a hydropower program dedicated to sustainable development, Minister Basnet highlighted the government’s commitment to responsible utilization of natural resources and sustainable progress, with strong collaboration from the private sector.

Addressing the pivotal role of the energy sector in sustainable development, Minister Basnet underscored the significance of realizing Nepal’s ambitious plan for zero carbon emissions. Emphasizing the hydropower sector’s crucial role in economic prosperity, he revealed the government’s objective to generate 28,000 megawatts of electricity by 2035. The minister outlined ongoing efforts, aligning with the slogan of universal electricity and energy accessibility, noting that 98 percent of households now have electricity access.

Minister Basnet expressed the government’s aspiration to extend electricity supply to the regional market, generating revenue for Nepal. To facilitate this, he highlighted policy and structural reforms aimed at creating an investment-friendly environment through the expansion of electricity generation, transmission, and distribution lines.

Regarding Power Purchase Agreements (PPAs) initiated by the private sector, Minister Basnet assured a positive approach. He indicated that ongoing discussions are addressing concerns related to forest area land use and project restoration after flood damage, with a resolution expected soon.

Sushil Bhatta, CEO of the Investment Board, revealed ongoing efforts to foster hydropower sector development, including plans for an upcoming investment conference.

Meanwhile, Ganesh Karki, Chairman of the Independent Power Producers Association of Nepal (IPAN), urged swift action on PPAs, especially given the government’s ambitious electricity production target. Karki also called for reforming certain provisions in the parliamentary consideration of the electricity bill, citing concerns about its friendliness towards the private sector.

Fiscal Nepal |

Thursday November 23, 2023, 02:39:35 PM |