In a bid to explore possibilities of hydropower projects and to discuss the power sector development in Nepal, the Third Power Summit 2008 has kicked off in Kathmandu on Tuesday.
Deputy Prime Minister and Home Minister Bamdev Gautam inaugurated the two-day summit. Addressing the inaugural function, Gautam stressed to strengthen friendly relation between Nepal and India in water sector.
Home Minister Gautam, who is also the acting PM, assured to provide enough security for the development of water resources in the country.
Prime Minister Pushpa Kamal Dahal "Prachanda", in his message to the summit, stated that the Government of Nepal has targeted producing 10,000 MW of hydropower in ten years to accelerate economic development of the country.
"India is the largest trading partners of Nepal and covers more than two-thirds of Nepal's international business. But in the last five years, Nepal's trade deficit with India has reached more than Rs. 105 billion," the PM said in his message. "We, therefore, believe that hydropower is such a sector from which both Nepal and India can remain on a "win-win" situation.
As many as 300 representatives from Nepal, India and other countries are participating in the summit. Leading power developers from India, including GMR, L and T, Sutlaj JVN, Jindal and IL and FS are also taking part in the summit.
The summit is jointly organised by the Nepal India Chamber of Commerce and Industries (NICCI), Independent Power Producers Association of Nepal (IPPAN) and Power Trading Corporation of India (PTC).
The two-day summit will discuss issues like the impact of Nepal's hydropower policies on future power projects, risks associated with financing power projects, availability of credit in financing power projects and installation of transmission lines to facilitate power exchange, among others.
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