Nepal Power Summit Declares Need for $20 Billion to Develop 10,000 MW
1 June 2016
The 2-day Nepal Power Investment Summit 2016, organized by the Energy Development Council (EDC) in partnership with the Nepal Ministry of Energy and Investment Board, concluded on 1 June 2016 with a declaration that Nepal needs $20 billion to develop 10,000 megawatts (MW) through on-grid hydropower projects in the next decade.
The statement by EDC also noted
- Nepal needs investment of $5 billion for high-voltage transmission projects to be completed by 2035; and
- Investment opportunities in several projects, including the 1,200 MW Budhigandaki, 410 MW Nalsingad, 762 MW Tamor, 180 MW Andhikhola, 87 MW Tamakoshi V, 415 MW Upper Tamor, 650 MW Tamakoshi III, and 530 MW Thuli Bheri.
Ms. Aliana B. Teplitz, United States of America Ambassador to Nepal, noted the country's huge potential to generate more than 40,000 MW of electricity. With current installed capacity at only 780 MW, better policy and legislation could improve the present scenario.
Speakers from Bhutan, India, Thailand, Singapore, China, and the United Kingdom highlighted investment challenges and opportunities in Nepal's energy and infrastructure development. The need to develop alternative sources of energy was emphasized.
EDC also launched an inventory report on rivers and rivulets of Nepal. Second phase of the report will focus on the potential of developing hydropower projects in these identified inland bodies of water. With as many as 11,614 rivers and rivulets, the country can meet its own electricity needs, and export to neighbors including Bangladesh and India. Utilizing Nepal's water resources would also create jobs and improve the national economy.
The Summit was attended by more than 200 local and foreign stakeholders from government agencies, state utility companies, IPPs, contractors, and financiers.
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