“Ensure Market Stability, Minister Khadka Urges Investment in Energy Sector”

Kathmandu – The Minister of Energy, Water Resources, and Irrigation, Deepak Khadka, has urged for investments in the hydroelectric sector, emphasizing the stability of the electricity market due to the ensured demand for produced electricity. The construction of the 77.5-megawatt Dhusakhola hydropower project in Taplejung by Remit Hydro Limited was highlighted during a financial management agreement signing ceremony. Minister Khadka stressed the need for investments in this sector, pointing out that with the electricity market being secured, venturing into this field is opportune.

Furthermore, Minister Khadka mentioned plans for exporting energy to neighboring countries like India and Bangladesh, aiming to sell between 13,500 to 15,000 megawatts by 2035. He also emphasized the expansion of transmission lines along with electricity production, which the government has prioritized to ensure effective distribution. The Minister noted the importance of both public and private sectors collaborating on expanding transmission lines to prevent electricity shortages and ensure a secure environment for investments in the sector.

In a bid to uplift the living standards of impoverished and marginalized citizens through the development of the hydropower sector, the government has initiated a program under the People’s Hydropower Program. Minister Khadka mentioned the provision of shares worth up to two to five lakh rupees for affected communities, aiming to empower them economically. He emphasized the need for national unity among all parties for development.

Regarding environmental concerns, Minister Khadka expressed the need to reconsider the revised provision of the National Parks and Wildlife Conservation Act by the Supreme Court, which had raised concerns about the impact on the hydropower sector. He urged for a reassessment of the order to meet the government’s objectives, requesting prompt collaboration from hydropower companies to fulfill the set goals.

Former Minister and Member of Parliament, Yogesh Bhattarai, highlighted the potential of the Taplejung hydropower project in creating employment opportunities and boosting the country’s economy. He emphasized the significant role of the private sector in harnessing the abundant resources of the region to contribute to the nation’s prosperity. Bhattarai believed that the locally generated hydroelectricity from Taplejung could aid in resolving the country’s energy crisis.

Led by Laxmi Bank Limited, the Hydroelectricity Investment and Development Company Limited (HIDCL), Nepal Electricity Authority, Civil Investment Fund, and other financial institutions are involved in financing the construction of the mentioned hydropower project. The project, with a total estimated cost of 18 billion 13 crore rupees, is set to be completed within four years after nine years of planning. Arjun Kumar Gautam, the Chief Executive Officer of HIDCL, provided insights into the project’s progress, affirming the commitment to achieving the set objectives within the stipulated timeline.


Author: MAYA | HARUTO
Posted at: January 27, 2025 3:00 am