Nepal invites foreign investments in hydropower sector
Nepal has invited foreign investments in the hydropower projects, saying restoration of democracy in the country has created a favourable atmosphere for development of the sector.
Inaugurating the two-day Hydropower Mart 2006 yesterday, Minister of State for Water Resources Gyanendra Bahadur Kari invited foreign investors to invest in the hydropower sector in the country.
After restoration of democracy through the popular movement in April, favourable atmosphere has been created for the development of hydro power, he said, adding foreign investment in hydropower sector is thus most welcome.
The Hydropower Mart is aimed at bringing together power producers, power purchasers, investors, policy makers, distributors and other actors in the hydropower sector.
President of Confederation of Nepalese Industries (CNI) Binod Chaudhari stressed the need to encourage small and unorganized sector to invest in hydropower sector, which is gaining popularity among private sector entrepreneurs.
Some 26 Independent Power Producers, 12 banks, 8 insurance companies and some potential buyers are participating in the mart.
The event is the joint initiative of Small Hydro Power Promotion Project, Confederation of Nepalese Industries, German Technical Cooperation (GTZ) and Winrock International to identify hydropower projects up to 10 MW capacity.
Though Nepal has the potential to produce 42,000 MW economically viable hydropower, it has so far generated only 612 MW power including some thermal plants.
Source: The Hindu
