Latest News Business The bank did not invest in the 3600 MW project with PPA

The bank did not invest in the 3600 MW project with PPA

Kathmandu. Deputy Prime Minister and Home Minister Narayankaji Shrestha has said that the government is working at the level of policy making to increase domestic consumption of electrical energy. He said this while inaugurating the 24th anniversary of the Association of Independent Power Producers (IPPAN). The Deputy Prime Minister also informed that the government is thinking about how to advance the energy sector in the investment conference to be held next May. Deputy Prime Minister Shrestha stated that the government and the private sector need to increase investment for the development and expansion of the energy sector. He urged the energy entrepreneurs to invest confidently, claiming that if they can adopt the concept of green development, the country will go on the path of development. Likewise, Energy, Water Resources and Irrigation Minister Shakti Basnet said that the contribution of the private sector in energy development is 60/70 percent, and the government is trying to meet the demand of the private sector and said that after the demand of the private sector is met, it will help to increase energy production. He said that the private sector had the biggest hand in reaching the production capacity from 800 to 2900 MW in the last decade. Minister Basnet informed that in the next 3/4 months, about 500 megawatts promoted by the private sector will be connected to the electricity system. In the event, Ganesh Karki, president of EPPAN, said that energy entrepreneurs are excited after the Prime Minister's visit to India and welcomed the government's agreement to sell 10,000 megawatts of electricity in 10 years. Informing that the government has increased the VAT in the energy sector, President Karki reiterated his demand to maintain the previous rate. Chairman Karki said that 31 projects have been damaged due to flood and landslides and also asked to solve the problems of those projects. He reminded that 46 trillion rupees will be invested to produce 10,000 megawatts of electricity and asked the National Bank to pay attention to it. As the bank has not invested in projects with PPA of 3600 megawatt capacity, Chairman Karki drew the attention of all parties to solve this problem. Karki said that if there is no transmission line, a lot of electricity will be wasted and the energy entrepreneurs cannot bear that situation. Last year, 2/300 megawatts of electricity was wasted. Api Power and others have been specially honored by EPPAN for their contributions in the energy sector in the EPPAN Awards program. On the occasion of 'Eippan Day', those who were honored with the Eippan special honor are Navinraj Singh and Sandeep Kumar Dev, Joint Secretaries of the Ministry of Energy, Chiranjeevi Chatout, Director General of Power Development Department and Prabal Adhikari, former Deputy Executive Director of Nepal Electricity Authority. Similarly, Api Power Company for constructing the largest 40 MW Upper Chamelia hydropower project in Sudurpaschim Province and National Hydropower Company for constructing the first private sector project larger than 1 MW have been honored. The company is operating the 7.5 MW Indravati 3rd hydropower project. Similarly, National Hydropower's founder president Jeet Bahadur Shrestha and current president Kumar Pandey have been honored. As the first hydropower project smaller than 1 megawatt, the 183 kilowatt Sange small hydropower project has been honored in the programme. Nabil Bank (then Nepal Bangladesh Bank), which was the first to invest in hydropower projects built by the private sector, Everest Construction Services Company as the first construction company involved in the construction of the project, and IGI Prudential Insurance Company (previously NBInsurance) as the first insurance company to insure the project have also been honored. . Similarly, Vikas Thapa, editor-in-chief of, has been honored with the senior energy journalism award.

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