Minister Pun appeals to int’l community to invest in Nepal’s hydropower sector

Minister for Energy, Water Resources and Irrigation, Barshaman Pun, has appealed to the international community to invest in Nepal’s hydropower sector.

At the 10th session of the assembly of International Renewable Energy Agency (IREA) taking place in Abu Dhabi, Minister Pun said that political stability has been established in Nepal with the formulation of the new constitution and the incumbent government has created investment-friendly environment.

Saying promoting investment in hydropower as per public private partnership was government’s policy, he urged the foreign investors to invest in Nepal with confident.

The Energy Minister also urged the IREA to help invite more investment in Nepal and requested to help in establishment of cheap and effective technology producing power, constructing transmission line and distributing power.

Meanwhile, the United Arab Emirates (UAE) has expressed commitment to provide concessional loan to efforts of the government of Nepal of producing energy from waste.

According to Minister Pun, who is on UAE visit, said that the UAE is to provide Rs 1.13 billion concessional loan for waste-to-energy project. Abu Dhabi Fund for Development (ADFD) expressed its commitment to provide the support to Nepal. On the occasion, Minister Pun thanked the UAE government for the support.

A Nepali delegation led by Minister Pun had participated in the assembly. The Nepali delegation comprises members of House of Representatives—Radha Kumari Gyawali, Raj Bahadur Budha and Bhumi Tripathi, Nepali Ambassador to UAE, Krishna Prasad Dhakal, Joint-Secretary at the Energy Ministry Madhu Prasad Bhetwal, Executive Director of Alternative Energy Promotion Centre Madhusudun Adhikari and Minister Pun’s personal secretary Durga Prasad Chapagain.