Kathmandu. Indian business houses have said that they are ready to invest in Nepal’s energy sector if investment and returns are assured. Indian business houses participating in the ‘Nepal-India Energy Summit’ organized in New Delhi with the joint organization of the Embassy of Nepal in India and the Indian Green Energy Federation and the institutional participation of the Independent Power Producers Association of Nepal (IPPAN), have emphasized the need for policy protection for Indian investment in Nepal.
They said that the government should facilitate the resolution of problems faced by hydropower projects, including ensuring returns after investment, easy withdrawal of investment, and resolving issues faced by hydropower projects. Sushil Sharma, project director of the Indian company Satluj Hydropower Corporation (SJVN), which is building the 900 MW Arun III Hydropower Project in Nepal, said that the government is facilitating the solution to the problems of forest, land acquisition, customs and roads in Nepal.
SJVN is constructing a 217-kilometer transmission line and the 900 MW project has been 84 percent completed in three years due to the government’s support, he said. He claimed that Arun-3 will be handed over to the government after 25 years with an investment of 34,000 crore Indian rupees, which will be a great help to Nepal’s economy. Sharma said that this project will attract Indian investors to Nepal.
Adani Group Vice President Jayaraman Punidhan said that the company is looking for good projects to invest in Nepal’s hydropower sector. Informing that the Adani Group has signed an ‘MoU’ for the generation of 27,300 MW of electricity worldwide, he mentioned that Adani’s priority is the neighboring countries and regional energy markets. Additional Secretary of the Indian Ministry of Power, Akash Tripathi, informed that the structure for the exchange of 1,000 MW of electricity between Nepal and India has been prepared and four transmission lines with a capacity to exchange 8,000 MW of electricity are under construction, so there will be no problem in exporting electricity produced in Nepal to India.
Uttar Bharat Hydropower Company Executive Director Naresh Goyal said that Indian investors are ready to invest in Nepal if the Nepal government removes administrative obstacles and creates an investment environment. Nepali Ambassador to India, Dr. Shankar Sharma, said that the embassy has organized a conference to achieve the target of 28,500 MW of electricity generation by 2035 set by the Nepal government. He informed that Indian investors can buy ownership of projects in Nepal or work in a ‘joint venture’.
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