Kathmandu, January 5

President Bidya Devi Bhandari has urged the government and independent investors to invest in hydropower development of the country.

Stating that hydropower is the backbone for economic development and prosperity of the country, President Bhandari said that the government and private sector should focus on investing in development of hydroelectricity.

Inaugurating the ‘Himalayan Hydro Expo 2018’, which is jointly organised by the Independent Power Producers’ Association Nepal (IPPAN) — the umbrella association of private sector developers — and Event Management Services here today, President Bhandari also drew the attention of concerned agencies to identify the reasons for the country lagging behind in hydropower development, even though Nepal was the first nation in the entire South Asia region to produce hydroelectricity.

“We have huge potential in hydropower development and if properly tapped, this sector will be able to change the fate of the entire nation,” President Bhandari stated. “The government and private sector should join hands and come together for hydropower development.”

Bhandari also stated that the government should be focused on supply, consumption and management of hydropower to make the country self-reliant on electricity. “The country is importing huge quantum of electricity annually and this practice should be ended,” she said.

President Bhandari also stressed on the need to shift towards renewal energy to replace the import of petroleum products.

On the occasion, Shailendra Guragain, president of IPPAN, informed that the expo has incorporated all the related sectors of hydropower development. “This expo is a one-stop solution for those who want to get information about the hydropower development and its other components,” Guragain said. He also stated that the expo will facilitate in creating a forum for discussion between policymakers, technology developers and investors.

Similarly, Bhawani Rana, president of Federation of Nepalese Chambers of Commerce and Industry, stated that investment and development of energy sector will be the best option to reduce trade deficit of the nation. Rana also said Nepal should be focused on energy development to upgrade the nation to the league of middle-income countries within 2030.

Likewise, Hari Bhakta Sharma, president of the Confederation of Nepalese Industries, stated that investment in hydropower development is essential to achieve the target of economic growth and prosperity of the country.

Hydropower experts, developers and equipment producers of multinational companies from China, India, Brazil, Italy, South Korea, Norway and others have already arrived to participate in the three-day event. Experts will discuss various issues regarding hydropower development during different sessions that will be held on the sidelines of the main event.