IPPAN calls for UK investment in Nepal’s energy, £2 billion ready from UK export finance

KATHMANDU: Ganesh Karki, President of the Independent Power Producers’ Association – Nepal, has called upon British investors to step up their commitments in Nepal’s burgeoning energy and renewable energy sectors. His plea was made on the grand stage of a high-profile investment conference held in London, United Kingdom, where the primary aim was to bolster investments in Nepal’s energy and renewable energy domains.

At the conference, Karki diligently presented a wealth of information regarding investment prospects within Nepal’s energy sector while underlining the constructive role played by the Nepalese government. His message was clear: foreign investors are not only welcome but essential contributors to Nepal’s growth and prosperity.

Sandeep Dev, Secretary of the Ministry of Energy, Water Resources, and Irrigation, took the stage to underscore the substantial investment potential within Nepal’s energy landscape, with a particular focus on hydroelectric projects. He also detailed key agreements with neighboring powerhouses India and China, illuminating plans for the expansion of hydropower initiatives orchestrated by the Nepalese government.

Notably, Nepal has sealed bilateral agreements with India and is in advanced stages of preparation for exporting electricity to Bangladesh. This effort demonstrates Nepal’s unwavering commitment to realizing climate and energy objectives in the broader South Asian region.

Dr. Prakasharan Mahat, the Finance Minister, stressed the pivotal role of substantial financial resources in propelling Nepal towards economic transformation and prosperity, recognizing the limitations of domestic resources. He emphasized the indispensability of foreign investments to fuel Nepal’s growth trajectory.

The Nepalese Ambassador to the UK, Gyan Chandra Acharya, artfully outlined Nepal’s investment priorities, shedding light on renewable energy, information technology, education, and tourism. He extended a warm invitation for long-term financial collaborations from London’s financial epicenter to invigorate these sectors.

In essence, the conference functioned as a dynamic platform for disseminating insights into the multitude of investment opportunities that Nepal offers. It facilitated constructive interactions and collaborations between Nepalese and British investors.

The event received an enthusiastic response, attracting participants from diverse sectors, including representatives from energy and financial ministries, as well as prominent figures from the business and industrial landscape.