Kathmandu, November 10

Energy Development Council and China-based Shenzhen Solar Energy Society today signed a Memorandum of Understanding to promote solar energy in the country.

The MoU was signed by Executive Manager of EDC Itnuma Subba and Secretary General of SZSES Zhang Nan Nan in the presence of Deputy Prime Minister and Minister for Energy Top Bahadur Rayamajhi, EDC chairperson Sujit Acharya, CEO of TSN Energy Bharat Acharya, and Secretary General of PV Special Committee of China Renewable Energy Society Lu Fang.

A press statement issued here today by EDC said the agreement will create a friendly environment that will promote solar energy in Nepal and strengthen the relationships between stakeholders in both countries.

According to the statement, member companies from China are looking to invest in solar energy projects between 25 MW to 500 MW and assured that such projects could be completed within three months of signing power purchase agreement.

SZSES is a non-profit association consisting of some of the worlds’ largest solar energy companies with a total member base of 370 solar energy companies that was established to promote the combination of solar energy science and technology and economy, reads the statement.

It said that EDC is a not-for-profit apex body established to represent the interest of the entire energy sector and comprises leading energy organisations of energy developers, associations, financiers and other funds, energy contractors from both private and government sectors involved in hydropower, among others.