South Asian Business news and information

Nepal has most of the top ten highest mountain peaks in the world. Nepal has many rivers too. So, Nepal should be the land of electricity. However, the reality is just the opposite. Nepal has not yet been able to utilize its hydroelectric potential and that is why, power shortage is a common thing in everyday life in Nepal. Nepalese officials have at last taken this matter seriously and are trying to increase electricity production.

People's Daily Online reported:

Nepal Electricity Authority (NEA) will add 630 megawatts (MW) to its power grid through construction new power plants and buying electricity from private sector, local newspaper The Kathmandu Post reported on Saturday.

NEA is starting construction of projects totaling 481 MW in output and is also entering into Power Purchase Agreements (PPAs) with private sector producers for projects totaling 150 MW in the next six months, according to NEA chief Arjun Karki.

"Of the projects we are building, we have more or less sealed financial commitments for the 61 MW Upper Trishuli A, 30 MW Chameliagadh, 27 MW Raghughat and 14 MW Kulekhani III," said Karki. China, South Korea, Organization of Petroleum Exporting Countries (OPEC) fund and NEA are funding these projects.

Nepal wants to solve its electricity problem by 2012. However, I am not so sure about it as Nepalese government has not invested in this sector until now. May be this time Nepal is serious. Let us hope for the best for people of Nepal.