IBN informed that it received as many as 48 applications for 31 out of 50 projects showcased at the summit. The cost of the 31 projects are over NPR 2,500 billion.

Number of Investment Applications for Nepal Projects

Nepal’s upcoming pride project Nijgadh Airport received the highest number of prospective investor applications. The USD 3.45 billion mega project in one of the most costly projects that the government has been trying to draw investment for.

“As many as six investors, the largest number for a single project, have applied to build Nijgadh International Airport,” read the IBN press statement.

Furthermore, the Kathmandu Valley’s Outer Ring Road and Bus Rapid Transit (on Ring Road) projects received four applications each.

In terms of infrastructure, five Nepal agriculture infrastructure projects received seven investor proposals. Tourism infrastructure projects received three proposals. Education and health infrastructure received one application, each.

Similarly, nine transport infrastructure projects received 22 investment proposals.

Investor Application Deadline Extended

However, IBN has not revealed the identity of the prospective investors as officials say that the deadline for investors applications is extended by one month to May 20, 2019.

“We are giving additional time to prospective investors to submit detailed proposal since these projects are complex and we received requests from interested parties to allow them more time to work on their applications, like in Nijgadh’s case,” said Adhikari.

However, industry experts opine that extension of application deadlines will make a difference, if the government doesn’t implement the FDI act, which was passed just before the summit.

Factors such as approval procedures from the government, time taken to initiate processes and the high cost of doing business can hamper the growth of investments in Nepal.

In the meanwhile, IBN revealed that it is planning to start the application review process shortly.

“The IBN has divided the projects into three categories. We will review the applications accordingly,” said Maha Prasad Adhikari, IBN CEO.

Adhikari added that 27 projects have been kept in the first category. It plans to shortlist eligible developers for the projects within three months or by August 20, 2019.

The next category of project developers will be selected in nine months from now or by February 20, 2020. While the third category has big and complex projects, for which IBN will select prospective developers over a period of 14 months or by August 20, 2020.

The IBN board of directors that met in a meeting last week have decided to form a six-member panel, under the Secretary of the Prime Minister’s Office (PMO) and the council of ministers, to shortlist applications and implementation of 15 MoUs signed during the summit.

The panel includes Joint Secretaries of Ministry of Culture, Tourism and Civil Aviation, Ministry of Energy and Water Resources, Ministry of Industry, Commerce and Supplies and Ministry of Physical Infrastructure.

Also Read:

• Nepal’s Nijgadh International Airport: Qatar Enters the Discussion, What’s Next?
• Nijgadh Intl Airport: Committee Pitches for New Project Report
• Nijgadh Airport Construction Raises Environmental Concerns

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The SCF grant and credit will support Nepal’s private sector-led Mini-Grid Energy Access Project, aiming to mobilize energy-service companies in select Nepal regions for increasing the capacity of renewable energy mini-grids.

“One component of the project will provide credit facility to the private sector to support renewable mini-grid sub-projects, and help this sector prosper and expand,” said Subodh Adhikari, World Bank Senior Energy Specialist and task team leader of the project.

The second component will provide technical assistance to energy-service companies, Nepal’s mini-grid sector and partner banks to facilitate smooth project implementation, adds Adhikari.

The Nepal government is using the project to ease private-sector participation in the renewable energy mini-grid sector and remove any barriers obstructing participation by introducing new approaches that will promote public-private partnerships.

Likewise, private entities and cooperatives will be utilized to provide electricity services to Nepal’s rural areas as ‘energy service companies’ (ESCOs).

These ESCOs will bring together the necessary technical expertise and financing capacity to develop, build, own and operate renewable mini-grid projects.

They will have access to better credit terms and stronger project development support through project.

“This project will tap into the vast business opportunities and technical potential for the private sector to provide more efficient and sustainable energy services in Nepal,” said Faris Hadad-Zervos, World Bank Country Manager- Nepal.

Zervos adds that the project is directly linked to the Nepal government’s effort for greater private sector management and commercial financing through public-private partnerships and the World’s Bank mission of all increasing all financing opportunities for the country’s development.

The project ultimately aims to support rural residential and non-residential customers, who will gain access to new or improved energy services in rural areas through renewable energy mini-grids.

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Besides this, nearly 75 houses in Aitabare area received electrification, prior to which residents suffered in the absence of a central transmission line.

The project was funded by the Asian Development Bank, Alternative Energy Promotion Centre and the District Coordination Committee who contributed Rs 14.5 million, Rs 1.6 million and 600,000, respectively.

Speaking at the inaugural ceremony, Energy, Water Resource and Irrigation Minister Barsaman Pun said that the distant areas which do not have access to the central transmission line will be put in touch with solar energy.

Pun also added that the Nepal Government has put supply of drinking water and irrigation facilities on top priority.

Talking about future plans, he said that the formation of the Federal Government has paved way for energy tie-ups with China and Bangladesh.

There are many hydropower and renewable energy projects that are already initiated with small and large scale firms in Province 1.

Member of National Planning Commission Dr Krishna Prasad Oli, Executive Director of Centre Nabaraj Dhakal and Member of House of Representatives Ghanshyam Khatiwada, also shared their views on development prospects with the help of solar energy.

Conclusion:
It is said that big changes begins with a small step. We hope that projects such as these pave the way for the overall development of Nepal.

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 “We are working very hard to bring in electric vehicles in Nepal. We don’t have a timeline. To some extent, we are constrained by the availability of charging facilities. But a Tata EV will be available on the streets of Nepal soon,” Sujan Roy, Head of Passenger Vehicles (International), Tata Motors said in a statement.

Making an official announcement in this regard, Roy said they are considering this move as a social responsibility.

“We have the vehicles being manufactured at our plant every day, we would be happy to bring them to Nepal. Yes, the concessions available on EVs are attractive, but we consider it as a social responsibility to bring EVs to Nepal,” he added.

Explaining on pricing strategy, Roy further explained that the prices will come down gradually with the advent of technologies.

“I would say that the tipping point in the EV market will soon be reached and electric cars will be as ubiquitous as mobile phones,” noted Roy.

It is noteworthy here that Tata has recently released its first batch of the EV model of its Sedan Tata Tigor in Gujarat, India.

Upon implementation, Tata would compete with the likes of BYD, Mahindra and KIA which have already come up with similar initiatives for Nepal.

This move comes an encouragement to the Nepal Government that has been pitching for clean energy solutions as part of eco-friendly policies.

EVs, Energy Security for Nepal

“EVs will provide a measure of energy security for Nepal. As of now, the price of oil affects us in many ways, but when we switch to electric, the situation will be different,” says Nepal’s former Finance Secretary Rameshore Khanal.

In line with Roy’s official aforementioned statement, proper standards that support full-fledged operation of EVs and lack of sufficient number of charging stations continue to exist as prime reasons limiting EV adoption in Nepal.

According to Khanal, Nepal Government is yet to come up with the relevant standards to give needed boost to EV implementation across the country.

Challenges aside, finally Clean Nepal is on the way!

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