Image Credits : Business Standard
Nepal’s Prime Minister K P Sharma Oli has revealed that the government is actively working to finalize a power trade agreement with Bangladesh, aiming to enhance regional energy cooperation and boost economic ties.
In a recent address, Prime Minister Oli outlined the government’s commitment to sealing the power trade deal with Bangladesh at the earliest opportunity. The proposed agreement is expected to facilitate the export of Nepali electricity to Bangladesh, leveraging Nepal’s abundant hydropower resources to meet the growing energy demands of its neighbours.
Prime Minister Oli emphasized the potential benefits of the agreement for both countries, including increased revenue from energy exports and greater regional energy security.
In addition to the Bangladesh deal, Prime Minister Oli outlined a broader vision for Nepal’s energy sector, including a long-term plan to export 10,000 megawatts (MW) of electricity to India over the next decade. This ambitious target reflects Nepal’s commitment to becoming a major player in the regional energy market and capitalizing on its hydropower potential.
The Prime Minister’s remarks underscore Nepal’s strategic approach to leveraging its hydropower resources to drive economic growth and regional cooperation. The proposed power exports to India and Bangladesh are part of a broader plan to develop Nepal’s energy infrastructure and establish robust export channels.
The government’s focus on energy exports is expected to attract investment in the hydropower sector and drive infrastructure development. By enhancing cross-border energy trade, Nepal aims to boost its economic prospects, create job opportunities, and foster regional integration.
As negotiations with Bangladesh continue, Nepal is also working on expanding its energy grid and improving transmission infrastructure to support the growing demand for electricity exports. The successful implementation of these plans could significantly bolster Nepal’s position in the regional energy market and contribute to its long-term economic growth.