hydropower projects<\/a> and the government will accord top priority to attract foreign investment and technology. The investors will also benefit from the growing demand for electricity in Nepal as well as South Asia,\u201d said the President in her inaugural address.<\/p>\nIn this regard, she promised an investor-friendly environment in line with their interests and needs to all the players coming forward.<\/p>\n
Need to Act Fast, says Ambassador<\/h4>\n
Highlighting Nepal\u2019s strong energy potential, Indian Ambassador to Nepal Manjeev Singh Puri said the country should act fast in implementing the hydropower projects considering the inclination towards renewable energy projects at the global-level.<\/p>\n
![\"\"](\"https:\/\/www.nepalisansar.com\/wp-content\/uploads\/2018\/01\/Indian-Ambassador-to-Nepal_Puri-e1517303551579-300x254.jpg\")
<\/p>\n
\u201cIn the backdrop where solar power is getting cheaper day by day, hydropower will lose its competitive advantage to solar energy soon. Therefore, Nepal should act fast in developing the hydropower projects,\u201d said Puri in his keynote address.<\/p>\n
He went on to say that Nepal should start mega energy projects for both employment generation and economic development and to stay ahead in competition.<\/p>\n
\u201cNepal should immediately start developing large projects to provide energy at competitive rates,\u201d he added.<\/p>\n
Industry Experts Seek Faster Implementation<\/h4>\n
Though Nepal\u2019s energy policies for foreign investors look promising, the government agencies working in the process need to pace up the rate at which they implement the projects, say the energy industry experts.<\/p>\n
\u201cWe are the private sector who looks maximized return within short period of time, but here in Nepal we have to invest more than five years doing basic things, getting approvals and clearances,\u201d said a Vietnam-based businessman who participated in the summit.<\/p>\n
The experts also lauded the Government of Nepal\u2019s power purchasing policies in USD term, ease in removal of land ceiling for big hydro projects and management of technical human resources as some of the notable developments required for attracting foreign investment.<\/p>\n
Innovation in Investment<\/h4>\n
Speaking at a panel discussion on \u2018FDI in Nepal\u2019s Power Sector\u2019 held as part of the summit, various energy industry experts and investors called for innovative ways of financing in the Nepali hydropower sector.<\/p>\n
\u201cSince hydropower projects are capital intensive and have longer gestation period, innovative financing solutions like equity financing is the need of time,\u201d says a Nepal-based private industry player.<\/p>\n
The panel speakers also pitched for independent regulatory body to check the demand and supply along with fixing energy tariff in the country.<\/p>\n
Towards Energy Development and Expansion<\/h4>\n
According to the summit organizer, Energy Development Council (EDC), this summit is aimed at creating a platform to ensure one-step business and business expansion in the energy sector while matching the interests of industry players.![\"\"](\"https:\/\/www.nepalisansar.com\/wp-content\/uploads\/2018\/01\/Delegates-at-Nepal-Power-Summit-2018-e1517304015246-1024x576.jpg\")
<\/p>\n
The summit was hosted a participant-investor platform allowing participants to meet investors for a debt financing of around
\nUSD 5-20 billion for various power projects including solar, wind and hydro energy.<\/p>\n
Speaking on the occasion, EDC Chairperson Sujit Acharya highlighted that Nepal holds a 40,000MW electricity generation potential over the next 10 years.<\/p>\n
“The resources needed for harnessing hydropower to that level could be available from the international financing institutions under Engineering, Procurement, Construction and Financing modality,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"
Nepal\u2019s strong existing and untapped hydropower potential was a point of discussion among various national and…<\/span><\/p>\nRead more<\/a><\/div>\n<\/p>\n","protected":false},"author":761,"featured_media":5628,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[525,5194,4294,4924,4922,4291,5192,1026,2994,5193,177],"yoast_head":"\n
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![\"Bidya](\"https:\/\/www.nepalisansar.com\/wp-content\/uploads\/2018\/01\/Bidya-Devi-Bhandari_-Nepal-President.jpg\")
<\/p>\n