Nepal to add 1,500 MW power next year

Kathmandu / June 26: Minister for Energy, Water Resources and Irrigation Barsha Man Pun has said that additional 1,500 MW electricity would be produced in the next fiscal year 2020/21.

“Although COVID-19 pandemic had affected some ongoing hydroelectricity projects, work at major projects like 456 MW Upper Tamakoshi is moving ahead undeterred. They will complete next year,” he said while addressing the ‘Virtual Hydropower Summit’ organised by the World Bank on Thursday.

He said that the economic activities and work at hydropower projects were continued even during the pandemic.

Stating that Nepal had given priority to run of the
river and reservoir projects and solar energy promotion, Minister Pun maintained that cooperation between the government and private sector was required for the development of the sector.

To attract domestic and foreign investment in hydroelectricity sector, the government had offered complete waiver on income tax for 10 years, 50 per cent discount for another decade, and concession on the Value Added Tax.

“Legal provisions are simplified to facilitate the investors and attract Foreign Direct Investment,” he said.