Nepal is planning to generate 10,781 MW of hydropower within ten years time at a whopping sum of USD 25 billion (NR 20 billion), according to a recently published energy strategy of the government.As per the plan, USD 18.75 billion will be required to develop necessary infrastructure and build power project with over 10,000 MW capacity and additional USD 6.25 billion will be needed to build transmission lines and distribution system.
The project was submitted to Minister for Water Resources Bishnu Poudyal by the ten year Hydro Power Development Project Task Force led by ex-Government secretary Somnath Poudyal.
The task force has suggested the government to generate necessary resource to complete the project at a time when the Himalayan country is suffering from acute power shortage with nearly 16 hours of load shedding.
As per the report, Nepal Electricity Authority (NEA) needs to invest 29 per cent of the estimated cost (Rs 429 billion).
On the other hand, national banks and domestic private sectors were entrusted with 24 per cent or Rs 358 billion of the estimated amount.
The remaining 47 per cent or Rs 712 billion would be managed from the foreign direct investment, according to the report.
The aspirations of the majority of the Nepalese people were associated with the development of hydropower, member secretary of the Task Force, Leela Nath Bhattarai said while presenting the report.
Lack of adequate energy is hindering progress in all the sectors, he said.
The report has identified political instability as a major pre-requisite to fulfill the national responsibility for hydropower development.
It also sought commitment from the political parties and asked them to set a common agenda of hydropower development towards achieving national development.
Besides, the report urged the government to end impunity and ensure peace, security and maintain law and order.
It also suggested the NEA to generate 22 per cent or 2,347 MW of electricity and the independent power producers to generate 64 per cent or 6,972 MW.
The remaining 14 per cent of power or 1,452 MW would be managed from dedicated imports, the report added.