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Ganesh Karki, President of Independent Power Producers Association, Nepal (IPPAN) has urged Indian investors to invest in Nepal.
At the Nepal India Energy Conference held in India's capital New Delhi on Wednesday, Karki said that there is a great opportunity for investment not only in energy production but also in businesses ranging from consultancy services to machinery supply.
President Karki said that the Nepal government has recently set an ambitious goal of producing 28,500 megawatts of electricity by the year 2035, for which an investment of 46.5 billion dollars is required, so now is a golden opportunity for investment in Nepal. He also informed that the Nepali private sector, which started producing electricity only in 2057, now occupies 80 percent (about 2800 MW) of the total installed capacity of 3500 MW.
Nepal and India are currently exchanging 1,000 megawatts of electricity, Karki said that 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 progressing in Nepal with the investment of Bharti Company, and projects worth thousands of megawatts are waiting for Indian investment.
According to a preliminary study conducted by the Nepal Investment Board, Karki said that since Nepal's solar energy production capacity is more than 4.32 gigawatts, Nepal can be an attractive destination for Indian investors in solar energy as well.
He also informed that Nepal is willing to partner with major Indian business houses like Adani Group, Tata Power, Jindal Power, GMR Group, SJVN Limited, NHPC. Karki said that Nepal can be developed as a country that fulfills the growing energy demand in the regional market by turning Nepal's abundant hydropower production potential into reality.
IPPA Vice President Anand Chaudhary gave a presentation and said that out of 3,500 megawatts of electricity being produced in Nepal, 4,000 megawatt projects are under construction, 4,100 megawatt capacity projects are awaiting financial management through Power Purchase Agreements (PPA) and around 20,000 megawatt projects are in various stages of study, so there is an opportunity for Indian investors to choose and invest in attractive projects.
He told Indian investors about 3 dozen large and attractive hydropower projects in Nepal owned by private and government. Brief information was also given.
Joint Secretary of the Ministry of Energy, Water Resources and Irrigation Chiranjeevi Chatout urged to invest in Nepal with confidence as the Ministry will facilitate many things to achieve the 28,500 MW electricity production target set by the government.
He said that there is a suitable policy for power generation, one transmission line of 400 kV between Nepal and India is in operation and two more lines are under construction, so sufficient infrastructure is ready for power generation and exchange.
Chatout urged all the big Indian investors to invest in Nepal as Nepal's hydropower policy is suitable and excellent for the protection of investors.
