‘Export of electricity is necessary for economic prosperity’

KATHMANDU: Prime Minister Pushpa Kamal Dahal has said that since the government has recognized the energy sector as a strong base of prosperity, it has taken forward the work, both politically and practically.

Dahal said that green energy is crucial for qualitative changes in the economy and for building the country’s financial strength in his remarks at the “Power Summit-2023,” which began here today.

The results have been achieved by accelerating the pace of development of hydropower projects through the joint efforts of private sector investors and the government, Prime Minister Dahal clarified.

He said that today, Nepal is very proud to announce to the world that it produces more energy than it consumes, even if it is seasonally.

“By 2025, we hope to be able to export electricity without importing it, even during the dry season. In order to develop the best strategy to increase the market for green energy, we have gathered here to benefit from the knowledge of domestic and international experts working in this area. “.

He said, “We are expanding the grid and investing in off-grid technology with the goal of providing electricity to all of the people of the country. We are aware that many Nepalis still do not have access to green energy. “We are working to increase the number of transmission and distribution lines and guarantee a steady supply of electricity.

In order to become economically prosperous by increasing industrial demand, Prime Minister Dahal claims that it has been prioritized to use the electricity generated domestically.

According to him, until the necessary infrastructure is put in place to use it internally, the electricity generated in the nation should be exported to protect the significant investment being made in this industry.

He claimed that having a presence in both regional and sub-regional markets is crucial for the economy. According to Prime Minister Dahal, expanding the use of electricity is necessary to reduce reliance on fossil fuels, narrow the wide trade deficit, and encourage the development of areas with higher electricity consumption rates.

Prime Minister Dahal stated that since the industrial sector is still reliant on diesel and coal, a significant increase in the use of electricity is also required to increase the industrial sector’s capacity.

He also mentioned the need for a rapid increase in energy use for the modernization of the agricultural sector.

Prime Minister Dahal clarified that the emphasis should be on reducing the consumption of cooking gas while highlighting the necessity for the government to ensure that businesses all over Nepal have affordable access to green energy.

Dahal said, “If we can get all Nepalis to cook with green energy, it will help with our forest conservation and also reduce our dependence on imported gas.”.

To further reduce the import of fossil fuels and the harmful effects of climate change, Prime Minister Dahal also suggested that the use of electric vehicles be encouraged.

Reiterating that the government is prepared to advance in partnership with the private sector, Prime Minister Dahal said that this summit will help to clear the way for the growth of Nepal’s green energy market.

He stated on another occasion that increased economic development has become a priority for the Nepali people as a result of the country’s historical political changes, and that investment should be increased to address this.

Prime Minister Dahal mentioned that by 2045, “Net Zero” will have been achieved, noting that Nepal is at the forefront of international efforts to protect biological diversity.

The government and the private sector are collaborating for the qualitative development and transformation of this sector, according to the program’s energy, water resources, and irrigation minister Shakti Bahadur Basnet.

He stated that the government is advancing with long-term thinking in the search for the global market for electricity, as well as an increase in domestic consumption.

The Power Summit has officially begun here as of this morning under the theme “Market Expansion of Green Energy.” The Independent Power Producers Association of Nepal (IPPAN) summit will last through Wednesday.

At the conference are more than 300 local and foreign participants from over 30 nations, including India, Bangladesh, Bhutan, and Sri Lanka.

The summit also includes senior representatives from the ministries of energy, water resources, and irrigation, as well as transmission and distribution firms, banks, and financial institutions.

15 sessions will be held during the summit to discuss the Nepali electricity market, transmission infrastructure, hydropower demand, technology, innovation, and global electricity trade.

The Ministry of Energy, Water Resources and Irrigation and the Investment Board are the conference’s patrons, respectively, according to Krishna Prasad Acharya, chairman of IPPAN, the summit’s organizer.