Addressing the inaugural session of the Third Power Summit, which kicked off in the capital, Tuesday, DPM Gautam said, "This government has attached highest importance to maintaining law and order. I assure you that we will provide full security to investors and the projects."
His views were echoed by Water Resources Minister Bishnu Poudel.
"Most of the investors whom I have met have raised the issue of security. This government is capable of delivering security. I want to assure you all," he said, adding that the government would make all necessary changes to move on a 'fast pace' to realise the hydropower potential.
The government has already spelled out its target of harnessing 10,000 MW of hydropower in next ten years.
Speaking at the programme, Jairam Ramesh, Minister of State for Commerce and Power of Indian government, said, "Export of power will undoubtedly earn for Nepal substantial revenues. Nepal's electricity potential could also be used to attract Indian investments in electricity intensive industries, exports of which to India could help bridge the trade deficit that Nepal has been concerned in relation to India – a legitimate concern, I might add, since we too are worried about our growing trade deficit with China."
"I would also state straightaway that we recognise Nepal's sensitivities and, therefore, fully appreciate that our interactions have to be at a pace and in a manner with which Nepal is comfortable," the Indian minister said.
Tantra Narayan Thakur, Chairman and Managing Director of Power Trading Corporation (PTC) of India, said that Nepal should first fulfill its need and then export surplus power to India. "The harnessing of 10,000 MW in ten years is a huge task but a doable one," he said.
Sandip Shah, president of Independent Power Producers Association of Nepal (IPPAN), said that political will for harnessing power on a business basis is getting stronger on both sides in recent times.
Arun Chaudhary, the president of Nepal India Chamber of Commerce and Industry (NICCI), said that it was only because of 'too much politicisation' that Nepal could not harness its hydropower in the past and had to suffer from 40 hours a week of load shedding despite being so rich in water resources.
The two-day Power Summit 2008 has been jointly organized by IPPAN, NICCI and PTC.
More than 300 delegates from India, Nepal and other countries are taking part in the summit. Some of the Indian sponsors of the event are leading names of Indian power sector such as – Jindal, GMR, Suzlon, Athena, AES, IL&FS, and Satluj Jal Vidyut Nigam. Similarly, from Nepal, SN Power, BPC, ICTC, West Seti and Moserbaer are sponsoring the event.
The two-day summit would primarily focus on the hydropower cooperation between Nepal and India along with the discussions on the regulatory environment and various project development issues impacting the growth of hydropower in Nepal. During the summit, a plenary session has been kept to discuss upon the various issues relating to transmission, interconnection and power trade.
The power summit is being participated by the leading development financial institutions, eg the World Bank, IFC, DEG, ADB etc that provide with the financiers' perspective on the various hydropower projects in Nepal. The discussion would also take place on the Developers' Perspective pertaining to risk in the hydropower projects. The delegates would discuss in length the various models of cooperation that could be possible between India and Nepal. nepalnews.com sd Sep 23 08
