Energy Minister urges int'l community to invest in Nepal's clean energy Business 360

Energy Minister urges international community to invest in Nepal's clean energy

This image shows Minister for Energy, Water Resources and Irrigation, Pampha Bhusal, in Kathmandu, on July 29, 2021. Photo: RSS

KATHMANDU: Minister for Energy Pampha Bhusal has appealed to the international community to invest in the renewable energy sector of Nepal and join hands for a mutually beneficial economic partnership.

At a programme on the 12th Assembly of International Renewable Energy Agency being held in Abu Dhabi of United Arab Emirates, Minister Bhusal said Nepal needs the financial and technical assistance for implementing innovative and cost-effective approaches for scaling up the clean energy projects in the country for climate change mitigation and adaptation while ensuring just and inclusive energy transition.

On the occasion, Minister Bhusal said reiterated Nepal’s commitment to meet the 1.5 degree Celsius temperature goal and asked all countries to undertake ambitious mitigation actions.

Stating that Nepal relies heavily on traditional resources and imported fossil fuels to meet its energy demand, Bhusal mentioned the dependence on fossil fuel import has not only widened the trade deficit but has also made Nepal very susceptible to the risk of energy security.

She informed the international community about Nepal’s submission to its Second Nationally Determined Contribution (NDC) in December 2020 depicting its ambitious targets for the next decade to mitigate emissions and increase the resilience of vulnerable people. “Among various targets, the Second NDC of Nepal aims to expand clean energy generation to 15,000 MW, of which 5 to 10 per cent will be generated from mini and micro hydropower, solar, wind and bio-energy by 2030.”

Minister Bhusal also shared Nepal’s priority to electric vehicles and residential cooking by using electric stoves.

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