Kathmandu. Nepal Infrastructures Investment Fund Limited has made a strategic investment in Gham Power Nepal’s subsidiary Gham Urja Sewa. The company has invested to develop solar energy.
Global Equity Fund Managing Director Dr. Manish Thapa said that Global Equity Fund has signed an agreement to expand the off-grid rooftop solar project in Gham Urja Sewa. He said that this investment will help generate clean electricity and reduce dependence on the grid. Although Nepal has significant potential for hydropower, its current energy production is struggling to meet the demand of industries.
This has led to increasing dependence on diesel generators and frequent power cuts. This further increases their carbon footprint and operating costs, which has a negative impact on both the environment and the economy.
Gham Power Nepal CEO Anjal Niraula said that this investment by Global Equity Fund in Gham Urja will provide alternative power to Nepali industries. Gham Urja has been providing rooftop solar power to commercial and industrial institutions under a 5 to 20-year power purchase agreement (PPA) model. The company has successfully installed rooftop off-grid solar projects for dozens of prestigious organizations like Soaltee Hotels, Saras Beverages, Gorkha Brewery, Arihant Infrastructures, etc.
The company’s total capacity was 5.7 MW as of FY 2080-81, which has expanded to 7.76 MW in the second quarter of FY 2081-82. Gham Urja Seva aims to further strengthen its market presence by investing in capital expenditure. The company aims to generate 10.27 MW of power in a few years.
The company says that the strategic partnership between Global Equity Fund and Gham Urja Seva is moving Nepal towards clean energy.
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