सिंहदरबार संवाददाता
Kathmandu. With a goal of trading carbon worth about one billion, the Independent Power Producers Association of Nepal (IPPAN) has signed an agreement to acquire International Renewable Energy Certificates (IRECs). The agreement is seen as important in the context of the gradual increase in the share of private sector energy production in the country.
The agreement was signed between IPPAN Chairman Ganesh Karki and ProClaim CEO Kabin Kumar Kandasamy at a program organized here, IPPAN said. The agreement signed by IPPAN with ProClaim will make 2,000 MW of electricity out of the 2,700 MW generated by the private sector in Nepal eligible for carbon trading in the first phase. With this agreement, Nepal’s private sector will be able to trade carbon worth about Rs 1 billion annually, said IPPAN Chairman Karki.
ProClaim CEO Kandasami said that since India, Bhutan and Sri Lanka are benefiting from carbon trading, Nepal is also going to utilize this opportunity. International Hydropower Association (IHA) Vice President Sushil Pokharel said that the hydropower projects being built in Nepal have met the sustainable development standards and informed that Nepali projects will also soon receive money from carbon trading.
Electricity Regulatory Commission Chairman Dr. Ram Prasad Dhital launched the IRIX calculator designed for Nepal. This calculator will show how many megawatts of electricity are generated and how much rupees are eligible for carbon trading annually. When the 2,700 megawatts of electricity generated by the Nepali private sector is linked to carbon trading, it should generate a benefit of about 1 billion rupees annually.
Says that Nepal has not been able to benefit from carbon trading even though carbon trading is taking place in the global market, Chairman Dr. Dhital emphasized that Nepal has immense potential in hydropower and that only more than 3,000 megawatts of hydropower is being produced. Now, Nepal should also be able to benefit from carbon trading. Joint Secretary at the Ministry of Forests and Environment, Dr. Maheshwar Dhakal, said that although Nepal has received money for carbon sequestration from forests on a small scale, the hydropower project has not yet been able to benefit from it.
Senior energy expert at the Ministry of Energy, Prabal Adhikari, expressed confidence that Nepal, which is exporting electricity to the regional market, will soon be able to earn good income from carbon trade. Global Carbon Council Manager Ashok K. Chandel and Global Renewable Alliance’s Erik Solheim also addressed the program and said that Nepal, which is located between powerful countries like China and India, should benefit from carbon trade.
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