Of that Rs 1.5 trillion will be needed for the development of hydropower generation while remaining Rs 0.5 trillion will be needed for the development of infrastructure including transmission lines, distribution, electrification and export systems.
The taskforce has prepared a report with plan to generate 10,781 MW of electricity by 2020 AD and submitted it to the Minister for Water Resources, Bishnu Poudel, on Sunday.
The Nepal Electricity Authority and other government agencies should make arrangement for 29 percent of Rs 1.5 trillion, the taskforce said. The taskforce recommended to the government to seek financial support from Nepali banks and other private-sector financial institutions national banking and private sectors for Rs 358 billions (24 percent) and to seek financial support of Rs 712 billion (47 percent) through foreign direct investments.
The taskforce has also recommended speeding up work at over 50 hydroprojects to achieve the ambitious target. The project includes 456 MW Upper Tamakoshi, 402 MW Arun-III, 300-MW Upper Karnali, 100-MW Upper Tamakoshi-A, 160-MW Tamor Mewa, 600-MW Budhi Gandaki, 380-MW Tamor reservoir and 335-Upper Arun.
The taskforce has also suggested to the government to establish a High-Level Power Sector Committee headed by a prime minister with a view to find solutions to obstacles in overall hydropower development sector.
A cabinet meeting had formed the taskforce on December 3, 2008 with senior hydropower expert Somnath Poudel as head. Senior officials from the Ministry of Water Resources, hydropower promoters, and experts, among others, are members of the taskforce.
thira@myrepublica.com
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