A two-day long “Power Summit 2006” is to be held from Thursday with a view to developing electricity between Nepal and India.

About 150 entrepreneurs including independent electricity producers from both the countries are taking part in the meeting organised jointly by Nepal Independent Power Producers’ Association (IPPAN) and PTC India ltd.

The meet will discuss various issues of exchange of Nepal-India hydropower assistance.

“Nepal and India’s partnership in hydropower has been a subject of high interest over the last five decades or so, and it is assuming priority in both countries. Private enterprise is abundant in both the countries, and needs a platform like this Power Summit for it to come together and give a meaningful shape to this partnership,” report quoted Dr Sandip Shah, president IPPAN as saying.

He stated that the efforts at the government level now need to be supplemented and complemented by private sector of both countries to harness the hydropower potential of Nepal and to enter into a regional power trade regime.

Stating that tremendous potentials lie between Nepal and India, T N Thakur, chairman and managing director of PTC India stated, “Energy trade is fast growing and crossing boundaries. Power trading has a huge scope and could complement each other’s need.”

According to IPPAN, the two day long event would primarily focus on hydropower cooperation between Nepal and India along with discussions on the regulatory environment and various project development issues impacting the growth of hydropower sector.

The participants include some leading names from the power sector like Jaypee Group, GMR, IL&FS, ICICI Securities, POWERGRID, LANCO Group, Teesta Urja, Alstom Projects, IFFCO-Tokio General Insurance, SBI Capital Markets from India and Butwal Power Company, SN Power Invest, Standard Chartered Bank, Everest Bank from Nepal and other leading power developers and financial institutions from Nepal.