PM addresses Power Summit 2023, highlights role of green energy for Nepal’s transition to strong economy

Prime Minister Pushpa Kamal Dahal ‘Prachanda’ has said the government of Nepal recognizes the energy sector as the one that can lead the country to developing a strong base for prosperity.
He also stressed that green energy will be both a means and also a product that will enable Nepal to make the transition to a strong economy.

Addressing the Power Summit 2023 that kicked off here from today, he said the government of Nepal takes great pride in announcing to the world that Nepal today generates more power than it consumes though seasonally.

The Power Summit 2023 is organized jointly by the Independent Power Producers Association of Nepal and the Government of Nepal. The theme of the Power Summit is, ‘Broadening Green Energy Markets.’

“Due to accelerated pace of development of hydropower projects both from IPPs and state utilities, we anticipate to be a net exporter of electricity by 2025 without any need to import even in the dry season,” the PM said adding that the Power Summit in Kathmandu is to share and learn from experiences from Nepal and abroad on the best strategy to “Broaden the markets for our green energy.”

Saying many Nepalese still do not have access to green energy, he pointed out that Nepal must continue to expand the grid as well as adopt off grid technologies to make electricity available to all people of the country.

“We also know that many industrial demands are ready to be created if we can expand transmission and distribution lines and ensure a stable power supply,” PM Dahal said, adding, “We all should understand that the use of generated electricity in our own domestic market is our key priority as we aspire to be economically prosperous.”

Until we build enough infrastructures to utilize the generated electricity internally, the PM viewed, we need to export it to protect the huge investments already incurred in the generation side.
He furthermore said that it is of equal importance, for economic reason, to engage ourselves in the cross border power trade in view of utilizing cheap and diverse resources existing in the region and sub-region.

Stating that while export of surplus energy from Nepal needs to be on the table, he highlighted four sectors that can consume electricity heavily and increase the per capita consumption. In his view, this will also mitigate Nepal’s dependency on imported fossil fuels and huge trade deficit.

Among the four sectors highlighted by the PM are: agriculture, industries that still rely on diesel and coal as well as biomass that pollute our environment, cooking and transportation.

He said while over 65 percent of Nepalese are engaged in agriculture, it contributes less than a quarter of our GDP and has a huge potential for growth. This growth potential should be powered with green energy.

Reiterating that the Government of Nepal will work to ensure that industries across Nepal have access to green energy priced at competitive rates, the Prime Minister said, “If we can get all Nepalis to cook with green energy, it will contribute to protecting our forests, and also greatly reduce our dependence on imported LPG.”