Power Summit 2023: Broadening Green Energy Markets in Nepal
The Independent Power Producers' Association, Nepal (IPPAN) is organizing the eighth edition of Power Summit 2023 on April 18-19 at Hyatt Regency, Kathmandu. The theme of the summit is "Broadening Green Energy Markets."
The Summit has the patronage of the Ministry of Energy, Water Resources and Irrigation, Government of Nepal, and the support of the Office of Investment Board, Nepal. The Right Honourable Prime Minister of Nepal will inaugurate the Summit in the presence of dignitaries from the Ministry of Energy, Water Resources and Irrigation, and South Asian Leaders.
The largest power sector event in Nepal will have 800 participants, including 300 international delegates from more than 30 countries. The Embassy of India, Kathmandu, is the country partner, and the Indian delegation will be in large numbers. Key sponsors for the summit include development partners like the World Bank, IFC, FMO, USAID, power trading companies, power producers, financial institutions, transmission and distribution companies, consulting companies, vendors, think tanks, and other power sector stakeholders.
Nepal has made significant progress in the energy sector since the first Power Summit in 2006. With the recent addition of the 86MW Solu Dudhkoshi Hydropower project to the national grid, the installed capacity has reached 2520MW, and an additional 600MW capacity shall be added in 2023 with a total reaching 6700MW by 2027. The private sector contribution is expected to reach 80% of installed capacity from the present 55%.
The Summit's focus is on broadening green energy markets, which means enabling transportation, agriculture, industry, cooking, and commerce to grow rapidly and make a complete switch to green energy away from fossil fuels. Nepal has an abundance of green energy, including solar, wind, biomass, and hydropower. However, investments made without really understanding the demand side lead to wastage and losses. Therefore, the discussions during the summit are expected to pave the way for identifying and opening doors for markets for Nepal’s green energy.
The Summit will have thirteen sessions covering issues relating to Markets for Nepal’s Power, Transmission infrastructure, Demand for Nepal’s hydropower, Technology and innovation, thinking beyond Hydropower to Solar, Hydrogen, Regulatory framework, cross-border power trade, Sustainable and climate-resilient development, Environment Social and Governance, Regionals interest and Energy Security, Projects of 5000 MW shall be showcased from Project Bank of IBN and the private sector.
The Summit will also include workshops and sideline events, including the CEO Forum and ESG practices. Investors will have a unique opportunity to discuss and understand power projects for investments.
The discussions during the Summit are expected to pave the way for identifying and opening doors for markets for Nepal’s green energy. The Summit provides a forum for discussion, discourse, and debate by all key experts of the power sector. This event cannot be missed by anyone who is looking forward to being part of Nepal’s power development journey.
Nepal has committed to becoming a net-zero country by 2045, and a big part of this is to be able to generate and use green energy and displace fossil fuels from its economy. The Summit is expected to ink many agreements and understandings for future development and market creation. We invite all concerned to use this platform to do business and help Nepal move ahead with its green energy development agenda.
Conference
