KATHMANDU, May 31: During the upcoming visit of Prime Minister Pushpa Kamal Dahal to India, efforts will be made to conclude a long-term Power Purchase Agreement (PPA) with India.
Nepal is initiating a long-term electricity purchase and sale agreement with India. The Indian side is not yet ready for a long-term agreement. Prime Minister Dahal is leaving for a four-day visit to India today.
Foreign Minister Narayan Prakash Saud held a press conference at the ministry on Tuesday and said that during the Prime Minister's visit to India, efforts will be made to reach a long-term electricity purchase and sale agreement between Nepal and India.
Nepal exports electricity worth Rs 8.32 billion to India
"We are trying to make a long-term power deal with India to increase investment in the electricity sector in Nepal and to ensure that the electricity produced in Nepal can be sold." Foreign Minister Saud said in a press conference held at the ministry on Tuesday, "After investing millions of rupees in the electricity sector in Nepal, its products can be sold." Investors should be reassured.'
Foreign Minister Saud said that maximum efforts will be made to attract Indian investment in hydropower projects.
He said that during the Prime Minister's visit, a plan was also made to establish the necessary basis for electricity trading not only in India but also in Bangladesh. "In addition to increasing investment in Nepal's electricity sector, the issue of marketing the electricity produced in Nepal will also be discussed during the visit," he said.
Minister for Energy, Water Resources and Irrigation Shakti Bahadur Basnet and Foreign Minister NP Saud are also scheduled to visit India during the Prime Minister's visit.
