State Minister for Power, Energy and Mineral Resources Nasrul Hamid today said power trade through regional cooperation will contribute to the progress of the SAARC region.
“SAARC framework agreement for energy cooperation (Electricity) has been signed, while BIMSTEC has been working to increase cooperation,” he said at a seminar on ‘Interaction between Bangladesh and Nepal in Power Sector” in Kathmandu.
Bangladesh Embassy in Nepal organized the seminar in collaboration with Nepal’s Energy Development Council and Independent Power Producer Association, Nepal, according to a message. The state minister said Bangladesh would need 60,000 megawatt (MW) electricity by 2040 and for this the power sector requires investment of USD 80 billion.
In the meantime, the United States (GE) has signed an agreement for investment of USD 2 billion, Europe (Siemens, Germany, Russia) USD 15 billion, Middle East USD 1 billion, Japan USD 6.6 billion and China USD 7.5 billion in power sector, he said.
Nasrul said the government has a plan to produce 35 percent electricity from coal, 35 percent from gas, 10 percent from renewable energy, 11 percent from cross border trade, 6 percent from nuclear and 3 percent from hydro and other sources as per the power sector master plan-2016.
He said the fuel mix will contribute for balanced development of electricity sector according to the Master Plan-2016.
Chief Executive Officer of Nepal’s Investment Board Maha Prasad Adhikari said that Bangladesh can invest in Nepal to produce 8,000 MW of hydroelectric power.
Apart from this, the Independent Power Producer Association, Nepal said if Nepal-Bangladesh power transmission system is done directly, then both sides will get more benefit.
For this, the meeting discussed inclusion of tri-lateral or multilateral issues in the cross-border guideline.
Executive Committee Chief of Nepal Energy Development Council Kushal Gurung, President of Independent Power Producer Association, Nepal Shailendra Guragain and Bangladesh Ambassador to Nepal Mashafi Binte Shams spoke in the seminar. Executive Committee Member of Nepal’s Energy Development Council Semanta Dahal moderated it.