(MENAFN- KNN India) New Delhi, Apr 26 (KNN) Nepal is giving top priority to developing its hydropower sector, with plans to export 10,000 megawatts (MW) of hydroelectricity to India over the next 10 years, President Ramchandra Paudel announced on Thursday.
Speaking at the Himalayan Hydro Expo 2024 in Kathmandu, Paudel said Nepal wants to promote renewable energy in the region by harnessing its immense hydro potential. The government has reached an agreement with India to facilitate this power export.
"The Nepal government is moving ahead with the private sector to pursue exporting 10,000 MW of hydropower to India in the next decade as per the recent bilateral deal," Paudel stated, reported BS.
He urged legal reforms to create an investment-friendly environment for domestic and foreign investors in Nepal's hydropower industry.
Energy Minister Shakti Basnet revealed the country aims to generate 28,700 MW of electricity by 2035 and is framing an action plan.
Currently producing around 3,300 MW, Nepal earned nearly 15 billion Indian rupees by exporting hydro-electricity last year.
Mohan Dangi of the Independent Power Producers Association said of the targeted 28,000 MW generation, 10,000 MW will go to India, 5,000 MW to Bangladesh, and 12,000 MW for domestic use.
The expo precedes the Nepal Investment Summit on April 28-29, where 146 projects will be showcased to attract over 500 foreign investors, including from India, China, USA, and Europe.
(KNN Bureau)
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