Russia interested to invest in Nepal hydropower

A delegation led by Russian Ambassador to Nepal, Aleksei Novikov, meets Energy Minister Barsha Man Pun, in Kathmandu, on Tuesday, December 8, 2020.

Kathmandu, December 8

Russia has expressed its interest to invest in the hydropower industry in Nepal.

In a meeting with Energy, Water Resources and Irrigation Minister Barsha Man Pun in Kathmandu on Tuesday, Russian Ambassador to Nepal, Aleksei Novikov, said two big banks of his country–Lanta and Moscow Industrial Bank–were interested to invest in big hydropower projects in Nepal.

The ambassador also informed that he wanted to sign a government-to-government agreement to enable investors to come to Nepal. He said he could motivate both government and private actors in Russia to invest in Nepal once the agreement was there.

During the meeting, the delegation had asked the minister about legal provisions about hydropower generation and distribution in Nepal and the possibility of selling it in the regional market.

In response, Pun said Nepal had already signed power trade agreements with India and Bangladesh so that the country could export electricity once there would be sufficient production.

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