Minister Khadka urges people to invest in hydropower sector

By A Staff Reporter,Kathmandu, Jan. 28: Minister for Energy, Water Resources and Irrigation Deepak Khadka has urged people to invest in the hydropower sector as the market for the electricity generated in Nepal is assured.

Speaking at the financial management disclosure ceremony of the 77.5 MW Ghunsa Khola Hydropower Limited, on Sunday evening, Minister Khadka urged investors to invest in this sector.

Remit Hydropower Limited is constructing 77.5 MW Ghunsa Khola Hydropower Project in Taplejung.

"We have said that by 2035, we will meet the domestic consumption of 13,500 MW and sell 15,000 MW of electricity to neighbouring countries, including India and Bangladesh. As the market for the electricity produced is assured, I want to request to invest in this sector with confidence," Minister Khadka said.

He said that the government is also working on the expansion of transmission lines along with electricity generation. 

He said that as arrangements have been made to allow the private sector to construct transmission lines, the electricity generated will no longer be wasted due to the lack of transmission lines. 

He said that the market for the electricity generated is assured and the work on the transmission lines is also progressing at a rapid pace, making investment in this sector safer.

Minister Khadka said that the government is planning to provide shares of Rs. 200,000 to Rs. 500,000 to the poor and needy citizens of the affected areas at a subsidised rate without collateral under the People's Hydropower Programme to improve the living standards of the poor and needy citizens through the development of the hydropower sector. 

He said that national unity is being established among all parties for development. 

Former Minister and member of House of Representative from Taplejung Yogesh Bhattarai expressed his hope that such projects would help in creating employment and making the country's economy vibrant. 

He urged the private sector to make the best use of the resources available in Taplejung, as it is an area with abundant hydropower potential. 

He said that the electricity produced from Taplejung would help in solving the energy crisis in the country.

The hydropower project is being constructed with the investment of Laxmi Sunrise Bank Limited, Hydroelectricity Investment and Development Company Limited (HIDCL), Nepal Electricity Authority, Citizens Investment Trust, and Machhapuchhre Bank, among others. 

Arjun Kumar Gautam, Chief Executive Officer of HIDCL, said that the construction work of the hydropower project is being taken forward after nine years of study. 

The total cost of the project is Rs. 18.13 billion and the target is to complete the project within four years.