Nepal, Bangladesh sign agreement to work together to develop energy

The governments of Nepal and Bangladesh have signed a memorandum of understanding on power exchange cooperation, under which a joint executive committee and joint technical group would be formed for bilateral collaboration.

A crucial discussion on the agenda at this meeting was the investment modality in Nepal’s hydropower, according to Nepal Minister for Energy, Water Resources and Irrigation Barsha Man Pun.

“The government and private sector of both the countries will work together to tap Nepal’s umpteen potential in hydropower,” according to Nasrul Hamid, Minister of State for Power, Energy and Mineral Resources of Bangladesh. This was published on The Rising Nepal website.

The Bangladesh minister said that country’s government is ready to immediately purchase 500 MW of power from Nepal, as per the MOU.

The Rising Nepal also reported that the two ministers plan to hold talks with India with regard to transmission lines.

This isn’t the first energy agreement between Nepal and Bangladesh. In October 2016, the two governments signed an agreement to build two pumped-storage hydropower plants in Nepal.

In June 2018, Nepal allocated US$779 million in its annual budget to energy, with an emphasis on hydro and “all types of renewable energy.”

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