Nepal Power Exchange Ltd signs deal with India's Manikaran Power to sell electricity
Nepal Power Exchange Ltd (NPEL) on Monday signed a trading agreement with India's Manikaran Power Ltd under which it will sell electricity produced by the domestic private sector to India via the Indian energy firm.
The NPEL is a subsidiary of Independent Power Producers' Association of Nepal (IPPAN), a non-profit, non-government autonomous organisation which encourages the private sector to work in the area of hydropower in Nepal.
The NPEL now has to receive a licence from the government, it said.
As of now, only Nepal Electricity Authority (NEA) has been exporting electricity to India. At present, the government is preparing to issue licences to private sector companies allowing them to carry out the cross-border power trade, the report said.
Meanwhile, addressing the Nepal Power Market Summit 2022 in Kathmandu on Monday as chief guest, energy minister Bhushal said Nepal aims at exporting its surplus electricity to India by increasing its current electricity generation capacity, which comes around 200 MW in peak hour.
Appreciating the important role played by Nepalese private sector in hydropower development, she said the Nepal government is working towards allowing the domestic private sector to directly sell electricity in the Indian market.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)