KATHMANDU: Nepal and Austria have signed a Memorandum of Understanding (MoU) on energy.
Minister for Energy, Water Resources and Irrigation Barsha Man Pun and Austrian Minister for Transport and Technology Undes Rechard signed the MoU on behalf of their respective governments on Tuesday.
Both the countries agreed to exchange investment, technology assistance and experience in the field of energy sector, according to a press statement issued by Roshan Khadka, media coordinator of Minister Pun.
As per the agreement, both the countries will co-work in energy and alternative sectors, exchange technical support and study the hydropower projects jointly, read the press statement.
Speaking at the signing ceremony, Minister Pun said that he had taken the agreement signed between Nepal and Austria to invest in the energy sector as a milestone.
Pun urged the Austrian counterpart to invest and provide technical support in energy as the government of Nepal had a target to generate 15,000 megawatt power in the next 10 years.
Stating that Nepal has suitable opportunities for investment, he asked Minister Rechard to encourage the private sector of his country to invest in Nepal.
Minister Rechard said that his government was interested to invest and support the development of hydropower sector in Nepal.
He committed to providing technical and financial support to the government of Nepal in its hydropower projects.
“We have a good and long experience in hydropower and alternative energy sector. We want to share our experience with Nepal,” Minister Rechard said.
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