KATHMANDU: At a time when the country has failed to exploit the immense hydro potentials of the country, the two-day long Power Summit 2013 kicks off in the Capital on Monday with the objective of exploiting hydro potential of the country by inviting more investment in this sector.
The summit organized by the Independent Power Producers’ Association, Nepal (IPPAN) with the motto of ‘Hastening Pace of Hydro power Development’, will review Nepal’s achievement in harnessing its hydropower potential since 2006, weaknesses and measures to be adopted to accelerate the pace of hydropower development.
Inaugurating the two-day summit, President Ram Baran Yadav said that Nepal can be recognized as a “hydro power nation” through the development of hydro power sector. He also said that this is the appropriate time for Nepal to develop hydro power sector.
Speaking at the program, Ministers have informed that the government is working to attract foreign investments in this sector. Similarly they informed that the government has been working to invite private sector in the development of transmission lines.
Over 200 hydro power experts from India, China, Russia, Norway, Canada and USA, among other countries, are participating in the summit, which will discuss the energy crisis and come up with ideas on developing the sector and address policy hassles.
The summit also aims to come up with the ides and suggest the government for the development of the hydro power sector in the country.
The summit is being divided into four pillars — projects meeting local demand to be built with local capital, projects meeting local demand being built with local and foreign capital, projects that plan to export power and power markets integration, transmission line and power market management.
The summit will cover all major areas that are prerequisite for the development of the country’s hydropower sector, including political commitment, legal and regulatory framework, realistic electricity demand forecast, electricity pricing, project financing infrastructure, construction of transmission lines and managing local expectations, according to IPPAN.
The frequent obstruction in the project sites by locals of the area demanding fulfillment of different unnecessary demands has been discouraging investment in this sector. Nepal is facing long hours of power-cut despite having immense potential of hydro-power sector.
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