April 25: President Ram Chandra Paudel inaugurated the Himalayan Hydro Expo 2024 at the Exhibition Hall in Bhrikutimandap, Kathmandu on Thursday. Addressing the opening ceremony of the expo, the president said that it is important to transform Nepal from an electricity importing country to an electricity exporting country. President Paudel mentioned that this is a matter of pride and happiness for everyone.

Stating that Nepal has reached an agreement to sell 10,000 megawatts of electricity to neighboring India within ten years, he expressed confidence that more investment will be made in this sector.

He said that it is possible to achieve the goals set for power generation through the facilitation and coordination of the government and the involvement of the private sector. The president further said that the expo will help to bring together all parties involved in energy development. The president urged all domestic and foreign investors to work together in green energy development.

Shakti Bahadur Basnet, Minister for Energy, Water Resources and Irrigation, said that the huge potential of hydropower development is an important basis for Nepal's progress.

"The government has brought an action plan to generate 28,700 megawatts of electricity within the next 12 years. Although it looks ambitious, it has been done based on reality and needs," he said. He added that there is a need to bring foreign investment in this sector. He mentioned that the electricity bill, which is now registered in the parliament, will be passed and implemented soon.

Minister Basnet expressed confidence that the new Electricity Act will facilitate the development of hydropower projects and the investment will increase further. He said that the government will continue to facilitate land acquisition, clearing forest and other procedural matters for the projects.

Ganesh Karki, president of the Independent Power Producers Association, Nepal (IPPAN), said that the private sector has invested Rs 13 billion in hydropower projects.

"It is playing an important role in economic growth and job creation and more than 500,000 skilled, semi-skilled and unskilled citizens are getting jobs," he said.

He said that Nepal has succeeded in earning foreign currency through electricity export in recent times and expressed his belief that the income from electricity exports will increase further in the coming days.

In order to increase foreign investment, he urged the government to make policy reforms and ease procedural hurdles. Development of hydropower projects has provided significant support for local development, he shared. Karki added that the promoters of hydropower projects have contributed to the construction of infrastructure such as local roads, drinking water facilities, health posts, playgrounds, etc.

Canada's ambassador to Nepal, Cameron McKee, through a video message, mentioned that the development of hydropower is important for Nepal's prosperity. He said, "We believe that Canada's extensive knowledge and experience will be useful for developing hydropower projects in Nepal." He said that emphasis should be placed on the use of updated technology for the development of renewable energy.

The expo, which started with the slogan Green Energy for Prosperity, will conclude on Friday.