Energy Minister tables proposal on ISA agreement in HoR

Published On: March 31, 2024 04:47 PM NPT By: Republica | @RepublicaNepal

KATHMANDU, March 31: Minister for Energy, Water Resources and Irrigation, Shakti Bahadur Basnet, presented a proposal in the meeting of the House of Representatives (HoR) today, seeking discussions on the agreement related to establishing the International Solar Alliance (ISA).

Tabling the motion, Minister Basnet said the ISA was formed with the goal of increasing energy accessibility and guaranteeing energy security through energy promotion. He informed the House that all the member nations of the United Nations were affiliated to it.

Nepal signed the agreement in 2022 and so far 118 countries have signed it while 97 countries have approved it, he added.

The Energy Minister insisted that Nepal signed this pact with the commitment to emphasize the use of clean energy and move ahead energy security in an effective way for combating the challenges of climate change.

He said in Nepal it is necessary to accord priority to solar energy as the production of hydroelectricity goes up during the monsoon while it decreases during the dry season whereas the demand for energy and its consumption is almost constant throughout the year.

Minister Basnet argued that solar energy is the best alternative for the immediate addressing of the demand for electricity since it takes a long time to construct the reservoir-based hydroelectricity projects.

Lawmaker Madhav Sapkota said signing the ISA founding agreement will be advantageous for Nepal as it will increase the country's access to green finance. He stressed that solar energy is the best option to fill the gap between energy demand and supply in the country. Sapkota also called for organizing special discussion in parliament on climate change issues.

Lawmaker Sobita Gautam stressed expanding the access to renewable energy sources for substituting the import of petroleum products which account for around 23 percent of Nepal's total imports.

Ganesh Parajuli said there is the possibility of bringing huge foreign direct investment into the country in the solar energy sector.

Lawmaker Metmani Chaudhary called on the government to give equal priority to the generation of solar power to supplement hydropower for meeting the growing demand for power in the country.

(RSS)