Kathmandu, October 10
Canadian investors have expressed interest to invest in Nepal’s hydropower sector.
At a meeting with Minister of Energy, Water Resources and Irrigation Barshaman Pun, a delegation of Canadian private sector representatives led by Canadian parliamentary member Brad Trost discussed about the potential of investing in Nepal’s reservoir-type hydropower projects.
Minister Pun informed the Canadian team of Nepal’s energy master plan , which includes producing 15,000 megawatts of electricity in next decade.
“In this context, Nepal offers plenty of lucrative opportunities to invest in its hydropower sector,” said Minister Pun, further assuring government’s support and positive investment climate for foreign investors.
While the government has already signed a bilateral agreement with India, it is gearing up to ink similar pacts on energy cooperation with Bangladesh and China.
Answering the queries put forth by the Canadian team about the market potential, Minister Pun said, “India and Bangladesh have shown interest to buy 500 megawatts and 1,500 megawatts of power from Nepal, respectively. The potential to sell excess electricity in the region is huge with various
regional agreements already in place.”
As per a media release issued by Ministry of Energy, Water Resource and Irrigation, Minister Pun also suggested establishment of Embassy of Canada in Nepal for closer cooperation in the future.
A version of this article appears in print on October 11, 2018 of The Himalayan Times.