NEA urges international partners to boost investment in energy sector

KATHMANDU: In a bid to meet the escalating energy demands, the Nepal Electricity Authority (NEA) has called upon its international development partners to increase investments in the country’s energy sector. The NEA highlighted the crucial need for mega investments in energy production, transmission, distribution, expansion, and reform.

The NEA specifically appealed to key partners, including Switzerland, the United Kingdom, the United States, the European Union, the World Bank, and the Asian Development Bank, which have been actively supporting Nepal’s energy initiatives.

The plea came during a monitoring visit by a delegation, including Swiss Ambassador Danielle Meuwly, World Bank Country Director Faris Hadad-Zerbos, and ADB’s Nepal Resident Mission Director Arnaud Cauchois.

The team visited the newly constructed 220-KV New Butwal Sub-Station, a part of the Kaligandaki Corridor 220 KV transmission line project, financed by the Government of Nepal and NEA, along with a concessional loan from ADB.

NEA Managing Director Kulman Ghising informed the delegation about the urgent need for over $13 billion in the next 5-6 years to enhance hydropower generation, transmission, and distribution. Ghising emphasized the requirement for mega investment to create infrastructure for the export of electricity to neighboring countries.

The monitoring team pledged increased assistance in the energy sector, acknowledging Nepal’s achievements in this domain. World Bank Country Director Faris mentioned that investment in the 1,063 MW Upper Arun Hydropower Project, led by the Bank, has reached its final stages.

ADB’s Resident Mission Director Arnaud highlighted the bank’s 50-year partnership with Nepal in the energy sector, noting the progress of the 635 MW Dudhkoshi Reservoir Hydropower Project, expected to manage its finances by 2024.

The Kaligandaki Corridor 220 kV double circuit transmission line, spanning 130 kilometers, was constructed with investments from the Government of Nepal, NEA, and a concessional loan from ADB’s Asia Sub-Regional Economic Cooperation. It aims to integrate electricity from hydropower projects into the national system.

Additionally, a new Butwal-Gorakhpur 400 kV second cross-country transmission line is under construction for power trade with India, emphasizing Nepal’s commitment to regional energy cooperation.

Fiscal Nepal |
Sunday March 3, 2024, 10:39:51 AM |

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