KATHMANDU, March 2: The Independent Power Producers Association of Nepal (IPPAN) has welcomed the ratification of the US grant project, Millennium Challenge Corporation (MCC) compact, by parliament.
IPPAN said the ratification of the MCC compact agreement has added a new dimension to the development of Nepal's power sector.
Private sector welcomes ratification of MCC compact agreement
IPPAN's Vice-president Ashish Garg said at a press conference organized here today to give information about the Third Himalayan Hydro Expo that the endorsement of the MCC compact by Nepal's parliament has enthused the independent power producers and promoters who have been facing problems particularly due to the lack of transmission lines. He added that the compact has also opened a new door of opportunities for them.
Garg was of the view that the MCC compact will support the country's journey toward economic prosperity.
The Expo is being organized at local Bhrikutimandap from April 1 to 3. The goal of the Expo is to promote domestic consumption of electricity and electricity trade. The event is being organized by IPPAN and it will include 100 stalls related to hydroelectricity promoters, producers, equipment suppliers, turbine manufacturers, investors, banks, insurance companies, among others.
The Expo will also have stalls related to new technology and construction. It also aims to promote the international market for Nepal's hydroelectricity.
