काठमाडाैँ । ऊर्जा जलस्रोत तथा सिँचाइ मन्त्री कुलमान घिसिङलाई एक ऊर्जा प्रवर्द्धकले खुला पत्र लेखेका छन् । उनले ऊर्जा क्षेत्रको विकासका लागि ध्यान दिनुपर्ने कुराहरू उल्लेख गर्दै पत्र लेखेका हुन् ।
सरकारले नेपालको जलविद्युत् उत्पादन क्षमतालाई दीर्घकालीन रूपमा विस्तार गर्दै २८ हजार ५०० मेगावाट लक्ष्य हासिल गर्ने तयारी अघि बढाएको छ। यसका लागि ठूला BOOT आयोजना, प्रसारण पूर्वाधार, निजी क्षेत्रको लगानी, नीतिगत सुधार, तथा अन्तरदेशीय विद्युत् व्यापारलाई प्राथमिकतामा राख्नुपर्ने भनाइ छ ।
खुला पत्रः
Honourable Minister,
With your appointment as Minister of Energy, I respectfully submit the following recommendations for urgent consideration during your tenure:
1. Promotion of Large-Scale BOOT Projects
Replicate the Arun-3 model on other major rivers, particularly Karnali and Seti, targeting at least 4,000–5,000 MW under a 30-year BOOT arrangement. Where feasible, prioritize even larger projects to expand Nepal’s power generation capacity and secure a sustainable export market in India.
In addition, the 1,200 MW Budhigandaki project—whose funding has already been collected through petroleum product levies—should be materialized within your tenure. As a national pride project, it should move beyond planning and enter implementation without further delay.
Such projects will provide long-term national benefits:
• Free energy, royalty, and tax revenue will begin after 10 years.
• After 30 years, all project assets will transfer to Nepal, delivering fully owned generation capacity.
2. Execution of Transmission Infrastructure
Transmission bottlenecks remain the primary obstacle to power sector growth. A comprehensive, well-funded plan must be finalized and executed immediately. Financing should be mobilized through domestic, bilateral, and multilateral sources, with strict adherence to completion timelines to ensure that new generation capacity can be fully evacuated.
Additionally, an inter-country and inter-continental high-capacity transmission network should be prioritized and constructed to facilitate large-scale power export to India and potentially beyond South Asia. This will position Nepal as a reliable regional power supplier and strengthen cross-border electricity trade.
3. Mobilization of Private Sector Investment
This is a critical moment for private sector participation in hydropower development. Investor confidence and capital formation are strong, enabling larger projects to proceed. Facilitate IPO approvals through SEBON and engage with the Ministry of Finance to create a supportive investment framework that will unlock significant private sector contributions.
4. Policy and Regulatory Amendments
Revisit the amendments you previously proposed as Managing Director of NEA regarding flat RCOD provisions and contract energy clauses for small projects. Streamlining these provisions will reduce unnecessary penalties for developers and provide flexibility to address climate-related challenges.
5. Open PPA and Free Trade Licensing
Power Purchase Agreements (PPAs) must be transparent, bankable, and based on a clear “take-or-pay” mechanism. Without take-or-pay, banks and financial institutions will not finance projects due to revenue uncertainty. A strong PPA framework should:
• Guarantee that the offtaker (NEA or authorized entity) purchases contracted energy or compensates the producer if power is curtailed.
• Include clear tariff structures, escalation mechanisms, and payment security provisions.
• Follow a standardized, transparent negotiation process to attract domestic and foreign investors.
In addition, free trade licensing should be opened for the private sector so that developers can directly sign PPAs or trade electricity with India or other neighboring countries. This will:
• Create a competitive electricity market benefiting producers and consumers.
• Diversify export opportunities and reduce dependency on a single buyer.
• Improve project bankability and accelerate investment in large-scale projects.
6. Reform of Forest-Related Policies
Forest clearance and regulatory requirements have long been a challenge for hydropower development. Now that you are in government, it is essential to review and amend restrictive provisions under the Forest Act and environmental regulations that delay project approvals.
Special focus should be given to projects in conservation areas and buffer zones, where overlapping jurisdiction and lengthy approvals increase costs and delay construction. Policy improvements should:
• Streamline forest and environmental clearance for nationally important hydropower and transmission projects.
• Define clear timelines and responsibilities among the Department of Forests, National Parks, and local authorities.
• Implement a single-window approval mechanism to remove duplication.
• Balance conservation goals with energy needs, applying compensatory plantation and mitigation measures pragmatically.
7. ROE and Storage Project Provisions
The current pegging of Return on Equity (ROE) at 17 % for projects above 100 MW should be reviewed and withdrawn. Large projects—especially storage projects—have higher capital costs, and to achieve energy balance, such projects require additional incentives. PPA rates for storage projects should be revised to ensure bankable tariffs that give confidence to investors and financiers.
8. Electricity Regulation and Licensing
Current electricity regulations should be updated to reflect present-day needs. The generation license period, presently limited to 35 years, should be extended to at least 50 years to ensure long-term investment security. Licenses that are being held without progress should be withdrawn and re-allocated to genuine developers to ensure timely project implementation.
Furthermore, all key agencies—ERC, DOED, and NEA—should align their efforts toward achieving the national generation target of 28,500 MW, working in coordination to deliver on this goal within the planned timeframe.
Respectfully,
Santosh Raj Nepal
Managing Director, Expert Hydro (44.52 MW)
Siddhi Hydro (10 MW)
