Kathmandu, Apr. 2
Nepal and India
have agreed that there are unprecedented opportunities for expanding and
further strengthening mutually beneficial bilateral cooperation in the power
sector including joint development of power generation projects in Nepal, and
development of cross-border transmission infrastructure.
According to a
India-Nepal Joint Vision Statement on Power Sector Cooperation issued on
Saturday following the bilateral talks between the prime ministers of the two
countries Sher Bahadur Deuba and Narendra Modi, they agreed for bi-directional
power trade with appropriate access to electricity markets in both countries
based on mutual benefits, market demand and applicable domestic regulations of
each country.
They agreed for
the expansion of such cooperation to include their partner countries under the
BBIN framework subject to mutually agreed terms and conditions between all
involved parties.
Likewise,
agreement was made for coordinated operation of the national grids, and
institutional cooperation in sharing latest operational information, technology
and know-how.
The joint
statement read that the two PMs agreed to make renewable energy production,
hydropower in particular, a cornerstone of their energy partnership, based on
their respective national policies and climate change commitments.
They also agreed
that Indian investment into Nepal's renewable power sector, in particular the
Hydropower sector, has the potential to benefit both the countries by
strengthening their economies generating employment, enhancing export earnings
and contributing to further development of industrial and financial capacities,
and mutually agreed sharing of other benefits.
Nepal has
invited Indian companies to invest in the development, construction and
operation of viable renewable power projects, including in the hydropower
sector, including through mutually beneficial partnership.
The two PMs
directed their concerned officials to expedite the bilateral discussions toward
early finalisation of the Detailed Project Report (DPR) of the Pancheswar
Multipurpose Project.
Both Prime
Ministers agreed to prioritize expeditious movement on projects and initiatives
on the basis of this joint vision. They agreed to continue supporting each
other's national growth and prosperity guided by mutual respect and equality.
Published in The Rising Nepal daily on 3 April 2022.
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