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Shreekrishna Nepal, joint secretary at the Ministry of Finance, and Bigyan Pradhan, acting country manager of World Bank, signed the agreement on behalf of their respective organisations.</p>
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According to a joint statement issued by the World Bank and the government, a total of USD 17.21 million will be spent during the four-year period of the private sector-led Mini-Grid Energy Access Project, of which the World Bank will finance USD 7.61 million (approximately Rs 845.2 million).</p>
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“We are thankful for the support of the World Bank in launching this milestone project to encourage commercial financing of renewable and off-grid energy systems in Nepal,” said Joint Secretary Shreekrishna Nepal.</p>
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“This project will demonstrate that the private sector-led model is feasible in mini-grid development and the government is committed to engage private sector in development.”</p>
<p>
Under the Project, private entities and cooperatives will be mobilized to provide electricity services to rural areas as “energy service companies” (ESCOs). These specialized ESCOs will crowd-in financing capacity to develop, build, own and operate renewable mini-grid projects.</p>
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“Maximizing finance for development is an important element in Nepal’s growth trajectory,” said Bigyan Pradhan, World Bank’s acting country manager for Nepal. “By encouraging the participation of the private sector, this Project motivates a business approach to improve energy access while supporting the government’s efforts to provide clean and efficient energy options to rural communities.”</p>
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April 23: The World Bank signed an agreement with the Government of Nepal on Monday to scale up renewable energy options in selected regions of Nepal in partnership with the private sector.</p>
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<p>
According to a joint statement issued by the World Bank and the government, a total of USD 17.21 million will be spent during the four-year period of the private sector-led Mini-Grid Energy Access Project, of which the World Bank will finance USD 7.61 million (approximately Rs 845.2 million).</p>
<p>
The World Bank said that the fund will be provided through its Strategic Climate Fund (SCF) comprising of SCF Grant of USD 5.61 million and SCF soft loan of USD 2 million.</p>
<p>
Similarly, the Government of Nepal will contribute subsidy of USD 6 million and the remaining USD 3.60 million will be contributed by the private sector.</p>
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“We are thankful for the support of the World Bank in launching this milestone project to encourage commercial financing of renewable and off-grid energy systems in Nepal,” said Joint Secretary Shreekrishna Nepal.</p>
<p>
“This project will demonstrate that the private sector-led model is feasible in mini-grid development and the government is committed to engage private sector in development.”</p>
<p>
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<p>
Shreekrishna Nepal, joint secretary at the Ministry of Finance, and Bigyan Pradhan, acting country manager of World Bank, signed the agreement on behalf of their respective organisations.</p>
<p>
According to a joint statement issued by the World Bank and the government, a total of USD 17.21 million will be spent during the four-year period of the private sector-led Mini-Grid Energy Access Project, of which the World Bank will finance USD 7.61 million (approximately Rs 845.2 million).</p>
<p>
The World Bank said that the fund will be provided through its Strategic Climate Fund (SCF) comprising of SCF Grant of USD 5.61 million and SCF soft loan of USD 2 million.</p>
<p>
Similarly, the Government of Nepal will contribute subsidy of USD 6 million and the remaining USD 3.60 million will be contributed by the private sector.</p>
<p>
The project will provide renewable energy to 126,000 people and support more than 80 businesses through micro/mini-hydro and solar subprojects in Nepal’s rural areas. The project will be implemented by the Alternative Energy Promotion Centre (AEPC), the government's nodal agency for renewable energy promotion in Nepal.</p>
<p>
“We are thankful for the support of the World Bank in launching this milestone project to encourage commercial financing of renewable and off-grid energy systems in Nepal,” said Joint Secretary Shreekrishna Nepal.</p>
<p>
“This project will demonstrate that the private sector-led model is feasible in mini-grid development and the government is committed to engage private sector in development.”</p>
<p>
Under the Project, private entities and cooperatives will be mobilized to provide electricity services to rural areas as “energy service companies” (ESCOs). These specialized ESCOs will crowd-in financing capacity to develop, build, own and operate renewable mini-grid projects.</p>
<p>
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<p>
“Maximizing finance for development is an important element in Nepal’s growth trajectory,” said Bigyan Pradhan, World Bank’s acting country manager for Nepal. “By encouraging the participation of the private sector, this Project motivates a business approach to improve energy access while supporting the government’s efforts to provide clean and efficient energy options to rural communities.”</p>
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April 23: The World Bank signed an agreement with the Government of Nepal on Monday to scale up renewable energy options in selected regions of Nepal in partnership with the private sector.</p>
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<p>
According to a joint statement issued by the World Bank and the government, a total of USD 17.21 million will be spent during the four-year period of the private sector-led Mini-Grid Energy Access Project, of which the World Bank will finance USD 7.61 million (approximately Rs 845.2 million).</p>
<p>
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Similarly, the Government of Nepal will contribute subsidy of USD 6 million and the remaining USD 3.60 million will be contributed by the private sector.</p>
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<p>
“This project will demonstrate that the private sector-led model is feasible in mini-grid development and the government is committed to engage private sector in development.”</p>
<p>
Under the Project, private entities and cooperatives will be mobilized to provide electricity services to rural areas as “energy service companies” (ESCOs). These specialized ESCOs will crowd-in financing capacity to develop, build, own and operate renewable mini-grid projects.</p>
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<p>
According to a joint statement issued by the World Bank and the government, a total of USD 17.21 million will be spent during the four-year period of the private sector-led Mini-Grid Energy Access Project, of which the World Bank will finance USD 7.61 million (approximately Rs 845.2 million).</p>
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According to a joint statement issued by the World Bank and the government, a total of USD 17.21 million will be spent during the four-year period of the private sector-led Mini-Grid Energy Access Project, of which the World Bank will finance USD 7.61 million (approximately Rs 845.2 million).</p>
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<p>
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April 23: The World Bank signed an agreement with the Government of Nepal on Monday to scale up renewable energy options in selected regions of Nepal in partnership with the private sector.
Shreekrishna Nepal, joint secretary at the Ministry of Finance, and Bigyan Pradhan, acting country manager of World Bank, signed the agreement on behalf of their respective organisations.
According to a joint statement issued by the World Bank and the government, a total of USD 17.21 million will be spent during the four-year period of the private sector-led Mini-Grid Energy Access Project, of which the World Bank will finance USD 7.61 million (approximately Rs 845.2 million).
The World Bank said that the fund will be provided through its Strategic Climate Fund (SCF) comprising of SCF Grant of USD 5.61 million and SCF soft loan of USD 2 million.
Similarly, the Government of Nepal will contribute subsidy of USD 6 million and the remaining USD 3.60 million will be contributed by the private sector.
The project will provide renewable energy to 126,000 people and support more than 80 businesses through micro/mini-hydro and solar subprojects in Nepal’s rural areas. The project will be implemented by the Alternative Energy Promotion Centre (AEPC), the government's nodal agency for renewable energy promotion in Nepal.
“We are thankful for the support of the World Bank in launching this milestone project to encourage commercial financing of renewable and off-grid energy systems in Nepal,” said Joint Secretary Shreekrishna Nepal.
“This project will demonstrate that the private sector-led model is feasible in mini-grid development and the government is committed to engage private sector in development.”
Under the Project, private entities and cooperatives will be mobilized to provide electricity services to rural areas as “energy service companies” (ESCOs). These specialized ESCOs will crowd-in financing capacity to develop, build, own and operate renewable mini-grid projects.
Commercial banks are a key partner who will assume credit risk of the subproject loans to ESCOs once they are eligible and selected to participate in the project by AEPC.
“Maximizing finance for development is an important element in Nepal’s growth trajectory,” said Bigyan Pradhan, World Bank’s acting country manager for Nepal. “By encouraging the participation of the private sector, this Project motivates a business approach to improve energy access while supporting the government’s efforts to provide clean and efficient energy options to rural communities.”
According to the statement, this project aims to support more than 25 mini-grid subprojects and add new generation capacity of 3.8 MW, while rehabilitating and restoring the capacity of existing mini-grids.
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<p>
According to a joint statement issued by the World Bank and the government, a total of USD 17.21 million will be spent during the four-year period of the private sector-led Mini-Grid Energy Access Project, of which the World Bank will finance USD 7.61 million (approximately Rs 845.2 million).</p>
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“This project will demonstrate that the private sector-led model is feasible in mini-grid development and the government is committed to engage private sector in development.”</p>
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Under the Project, private entities and cooperatives will be mobilized to provide electricity services to rural areas as “energy service companies” (ESCOs). These specialized ESCOs will crowd-in financing capacity to develop, build, own and operate renewable mini-grid projects.</p>
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According to a joint statement issued by the World Bank and the government, a total of USD 17.21 million will be spent during the four-year period of the private sector-led Mini-Grid Energy Access Project, of which the World Bank will finance USD 7.61 million (approximately Rs 845.2 million).</p>
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Similarly, the Government of Nepal will contribute subsidy of USD 6 million and the remaining USD 3.60 million will be contributed by the private sector.</p>
<p>
The project will provide renewable energy to 126,000 people and support more than 80 businesses through micro/mini-hydro and solar subprojects in Nepal’s rural areas. The project will be implemented by the Alternative Energy Promotion Centre (AEPC), the government's nodal agency for renewable energy promotion in Nepal.</p>
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“We are thankful for the support of the World Bank in launching this milestone project to encourage commercial financing of renewable and off-grid energy systems in Nepal,” said Joint Secretary Shreekrishna Nepal.</p>
<p>
“This project will demonstrate that the private sector-led model is feasible in mini-grid development and the government is committed to engage private sector in development.”</p>
<p>
Under the Project, private entities and cooperatives will be mobilized to provide electricity services to rural areas as “energy service companies” (ESCOs). These specialized ESCOs will crowd-in financing capacity to develop, build, own and operate renewable mini-grid projects.</p>
<p>
Commercial banks are a key partner who will assume credit risk of the subproject loans to ESCOs once they are eligible and selected to participate in the project by AEPC.</p>
<p>
“Maximizing finance for development is an important element in Nepal’s growth trajectory,” said Bigyan Pradhan, World Bank’s acting country manager for Nepal. “By encouraging the participation of the private sector, this Project motivates a business approach to improve energy access while supporting the government’s efforts to provide clean and efficient energy options to rural communities.”</p>
<p>
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'title' => 'World Bank Launches New Project to Scale Up Renewable Energy Options',
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'summary' => 'April 23: The World Bank signed an agreement with the Government of Nepal on Monday to scale up renewable energy options in selected regions of Nepal in partnership with the private sector.',
'content' => '<p>
April 23: The World Bank signed an agreement with the Government of Nepal on Monday to scale up renewable energy options in selected regions of Nepal in partnership with the private sector.</p>
<p>
Shreekrishna Nepal, joint secretary at the Ministry of Finance, and Bigyan Pradhan, acting country manager of World Bank, signed the agreement on behalf of their respective organisations.</p>
<p>
According to a joint statement issued by the World Bank and the government, a total of USD 17.21 million will be spent during the four-year period of the private sector-led Mini-Grid Energy Access Project, of which the World Bank will finance USD 7.61 million (approximately Rs 845.2 million).</p>
<p>
The World Bank said that the fund will be provided through its Strategic Climate Fund (SCF) comprising of SCF Grant of USD 5.61 million and SCF soft loan of USD 2 million.</p>
<p>
Similarly, the Government of Nepal will contribute subsidy of USD 6 million and the remaining USD 3.60 million will be contributed by the private sector.</p>
<p>
The project will provide renewable energy to 126,000 people and support more than 80 businesses through micro/mini-hydro and solar subprojects in Nepal’s rural areas. The project will be implemented by the Alternative Energy Promotion Centre (AEPC), the government's nodal agency for renewable energy promotion in Nepal.</p>
<p>
“We are thankful for the support of the World Bank in launching this milestone project to encourage commercial financing of renewable and off-grid energy systems in Nepal,” said Joint Secretary Shreekrishna Nepal.</p>
<p>
“This project will demonstrate that the private sector-led model is feasible in mini-grid development and the government is committed to engage private sector in development.”</p>
<p>
Under the Project, private entities and cooperatives will be mobilized to provide electricity services to rural areas as “energy service companies” (ESCOs). These specialized ESCOs will crowd-in financing capacity to develop, build, own and operate renewable mini-grid projects.</p>
<p>
Commercial banks are a key partner who will assume credit risk of the subproject loans to ESCOs once they are eligible and selected to participate in the project by AEPC.</p>
<p>
“Maximizing finance for development is an important element in Nepal’s growth trajectory,” said Bigyan Pradhan, World Bank’s acting country manager for Nepal. “By encouraging the participation of the private sector, this Project motivates a business approach to improve energy access while supporting the government’s efforts to provide clean and efficient energy options to rural communities.”</p>
<p>
According to the statement, this project aims to support more than 25 mini-grid subprojects and add new generation capacity of 3.8 MW, while rehabilitating and restoring the capacity of existing mini-grids.</p>
<p>
</p>
<p>
</p>
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