KATHMANDU, NOVEMBER 22
A new grant scheme under the Renewable Energy and Energy Efficiency Programme – Green Recovery and Empowerment with Energy in Nepal (REEEP-GREEN) was launched on Thursday to promote energy efficiency in industries and enterprises.
The initiative, managed by Rastriya Banijya Bank Limited (RBBL), aims to support industries and enterprises with significant energy saving potential in adopting energy-efficient practices, contributing to green growth and livelihood improvement in Nepal, according to press release issued by the RBBL.
The scheme offers grants covering a percentage share of total investment, encourages industries and enterprises to invest in their own energy efficiency measures, identified through energy audits conducted by locally certified energy auditors. The grant conditions prioritize energy efficiency, decent wok approaches and environmental standards.
By adopting energy efficiency measures, industries can reduce their operational costs through lower energy bills and improve productivity. In addition, these measures contribute to decreased carbon emissions and the responsible use of natural resources. The initiative aims to help industries optimize production processes and enhance operational reliability while minimizing their environmental impact.
This program reflects broader efforts to advance sustainable practices within various sectors by applying principles of the circular economy and promoting decent work conditions. The outcomes of the grant-supported initiatives are expected to serve as a basis for developing business cases for loans and blended financing in the public and private sectors, thereby encouraging greater adoption of energy efficiency measures.
REEEP-GREEN represents a collaborative technical cooperation effort involving the Government of Nepal, the Federal Republic of Germany, and the European Union. Supported by GIZ on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Union, the project is being implemented by the Ministry of Energy, Water Resources, and Irrigation. Its goal is to improve the conditions for planning and implementing measures that promote renewable energy and energy efficiency in Nepal.
