The second edition of Nepal Power Investment Summit is scheduled to be organised from January 27 to 29.

Organised by Energy Development Council (EDC), the three-day event intends to promote the country's energy sector and foreign investment in the sector.

Organising a press conference here today, officials of EDC informed that summit this year will basically promote the idea of producing 40,000 megawatts of energy within the next one decade and assemble electric products related to hydropower in Nepal.

“Nepal should give high priority to hydropower sector and energy generation if the country is to achieve economic prosperity. Thus, the summit specifically aims to promote the country's energy sector,” said Sujit Acharya, chairperson of EDC.

As per him, summit this year will prioritise to seek finance for different energy projects - both loans and equity financing. “The planned energy production of 40,000 megawatts of energy requires almost $80 billion investment. EDC will facilitate Nepali project developers to get financing opportunities for their projects through the event.”

EDC also said that the summit will provide a platform for various investors, contractors and financiers from around the world and Nepali energy developers to make deals and agreements.

Organisers have said that the three-day event will consist of conferences by high-level delegates from SAARC and training programmes by renowned international energy and financial organisations. Similarly, EDC is also organising an energy mart during the summit to promote the country's energy sector.

“Different foreign firms that have financed up to $20 billion in one single project will also be participating. Thus, the summit will be a good platform for domestic investors who have energy projects in hand but lack resources,” added Acharya.