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24th meeting of IBN concludes

 

24th meeting of IBN concludes 

Published: July 23, 2016 8:52 am On: Business

The 24th meeting of Investment Board Nepal has decided to endorse the ‘National Energy Demand and Supply Study’ and decided to direct the National Planning Commission through the Office of the Prime Minister and Council of Ministers (OPMCM) to make necessary policies, plans and programmes by incorporating the recommendations of the study. According to the study, the country’s energy demand would hover around 10,000 megawatts by 2030. The current per capita electricity consumption is 132 kWh per year, which is much lower compared to other South Asian countries. At present, only around 58 per cent of the total population in the country has access to electricity.

The Nepal Power Investment Summit 2016, which was held last month, had declared that Nepal requires $20 billion to generate 10,000 MW on grid hydropower projects in the next 10 years. The summit had also declared that the country would need investment of $5 billion for high voltage transmission line projects to be completed within 2035. Nepal is eyeing generation of 13,700 MW of hydroelectricity within 2025 and 44,000 MW of electricity within 2035. Of this quantum of hydroelectricity, 12,000 MW can be exported within 2025 and 24,000 MW can be exported within 2035. According to Nepal Electricity Authority, the current energy deficit stands at 45 per cent. At present, the total 829 MW installed capacity includes 776 MW of hydro-electricity and 53 MW through thermal plants, which is connected to the National Grid System. But only around 300 MW is generated during the winter season against the demand of around 1,292 MW. Moreover, today’s IBN meeting, which was chaired by Prime Minister KP Sharma Oli has also decided to request concerned ministries to fast-track the environmental impact assessment (EIA) of projects that are in the implementation phase through IBN and to simultaneously take forward the EIA and the process for use of forest land. The IBN meeting today also made various other decisions, including endorsing the study to set up security printing plant and its operational modality.

http://thehimalayantimes.com/business/24th-meeting-investment-board-nepal-ibn-concludes/