Nepal Sets Ambitious Target to Generate 28,500 MW of Hydroelectricity by 2035

Nepal has set a goal to produce 28,500 MW of hydroelectric power by 2035, aiming to export electricity to nearby countries to increase foreign currency earnings. This ambitious target was shared by Deepak Khadka, Minister for Energy, Water Resources and Irrigation. He mentioned that the plan has been submitted to the Cabinet for approval.

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Minister Khadka highlighted the importance of central government support in achieving this energy production target. He stated, "We are aiming to export power to all our neighbouring counties through proper utilization of our abundant water resources so that the country could attain economic prosperity." This reflects Nepal's strategic focus on leveraging its natural resources for economic growth.

Electricity Export Agreements

Nepal has already secured an agreement to sell 10,000 MW of electricity to India. Additionally, a recent deal with Bangladesh will see Nepal exporting 40 MW of electricity. The minister noted that while domestic consumption is rising, reaching over 13,000 MW within ten years, plans are underway to expand exports significantly.

In the future, Nepal aims to sign agreements to export between 6,000 and 7,000 MW of power to Bangladesh. This move is part of a broader strategy to enhance economic prosperity through energy exports. The minister assured that the government is committed to supporting renewable energy initiatives in the country.

Renewable Energy Initiatives

The government is actively promoting renewable energy as part of its electrification goals. Minister Khadka confirmed that efforts are underway to introduce the Renewable Energy and Energy Efficiency Act. This legislation aims to address challenges in the alternative energy sector and support the country's electrification objectives.

The minister emphasized that achieving full electrification is a priority for the government. By focusing on renewable energy sources, Nepal hopes to meet its domestic power needs while also boosting its economy through exports. The government's commitment includes providing necessary support for these initiatives.

Nepal's strategy involves not only meeting domestic electricity demands but also capitalizing on its hydroelectric potential for export purposes. By doing so, the country aims to strengthen its economic position in the region while ensuring sustainable energy development.