Kathmandu. Ganesh Karki, President of Independent Power Producers Association of Nepal (IPPAN), has urged Indian investors to invest in Nepal. Speaking at the ‘Nepal-India Energy Summit’ held in New Delhi today, IPPAN President Karki urged Indian investors to invest with confidence as there is a guarantee of investment security and returns.
‘The Nepal government has set an ambitious target of generating 28,500 megawatts of electricity by 2035. As an investment of $46.5 billion is required for that, there is a golden opportunity for investment in Nepal,’ Karki said.
According to a preliminary study conducted by the Investment Board of Nepal, Nepal has a solar energy production capacity of more than 4.32 gigawatts, so Indian investors can also invest in solar energy, he said. He informed that Nepal is interested in partnering with major Indian business houses like Adani Group, Tata Power, Jindal Power, GMR Group, SJVN Limited, NHPC.
IPPAN Vice President Anand Chaudhary said that out of 3,500 MW of electricity being generated in Nepal, projects worth 4,000 MW are under construction, 4,100 MW of projects are awaiting financial management through Power Purchase Agreement (PPA), and about 20,000 MW of projects are in the study phase.
Chiranjivi Chataut, Joint Secretary at the Ministry of Energy, Water Resources and Irrigation, urged people to invest with confidence as the ministry will facilitate the government to achieve the 28,500 MW electricity generation target. IPPAN stated that the conference was organized by the Nepali Embassy in India and the Indian Green Energy Federation with the institutional participation of IPPAN under the slogan ‘Exploring Investment Opportunities in Hydropower and Renewable Energy Sector’.
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