US support to promote Nepal hydro sector

KATHMANDU: The United States of America on Monday announced a project to support hydropower development in Nepal.

The Nepal Hydropower Development Project (NHDP) will bring in USD 9.8 million to Nepal in next five years for hydropower development.

"The project implemented by Deloitte Consulting LLP will support Government of Nepal efforts to expand the country’s access to modern, high-quality hydropower services and become an energy exporter in South Asia," read a statement issued by the Kathmandu-based US Embassy today.

The project will be implemented in coordination with the Investment Board of Nepal, the Nepal Electricity Authority and the Ministry of Energy.

The project will help facilitate private sector investment in hydropower resources in an environmentally and socially sustainable manner," the statement added.

The project will result into economic growth, job creation, higher export revenues through electricity sales; and better energy security by enhancing domestic generating capacity and integration with regional electricity markets, claimed the Embassy.

“Successful private sector engagement will play a pivotal role in expanding Nepal’s hydropower sector while increasing the amount of energy available for use in Nepal and for regional exports,” the statement quoted US Ambassador to Nepal Peter W. Bodde as saying.