Kathmandu, Feb 25 (PTI) Nepal and India have agreed to form a Joint Hydro Development Committee to further explore the development of viable hydropower projects in the Himalayan nation with a focus on storage, it was announced here on Friday.

The two sides have reached an agreement during the 9th meeting of the Nepal-India Joint Working Group meeting on Power Sector Cooperation that concluded here on Friday, according to a press release issued by the Indian Embassy.

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"The Indian side also acknowledged the recent enhancement in the installed power generation capacity in Nepal that paves the way for stronger and mutually beneficial cooperation in the power sector," it said.

Nepal and India held the 9th meetings of the Joint Working Group (JWG, Joint Secretary level) and the Joint Steering Committee (JSC, Secretary level) on bilateral power sector cooperation here on Thursday and Friday.

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"The two mechanisms provide the necessary framework to support bilateral cooperation in the power sector."

"During the JSC and JWG meetings, the two sides reaffirmed that power sector cooperation is a strong pillar of Nepal India partnership and agreed to pursue it along the following axes: joint development of generation projects in Nepal, joint development of cross-border power transmission infrastructure, power trade under respective domestic regulations and policy framework, and capacity building assistance,” it said.

The apex JSC meeting was co-chaired by Alok Kumar, Power Secretary, Government of India and Devendra Karki, Energy Secretary, Ministry of Energy, Water Resources and Irrigation, Government of Nepal.

"The Indian side during the meeting briefed the Nepali side on recent developments in India's power sector scenario, including installation of a large renewable energy capacity and the achievement of “One Nation, One Grid, One Market,” reads the press release.

"Nepali side has briefed India on the recent developments and future trends in power generation, transmission and demand scenarios in Nepal,” it added.

The two sides also decided to continue the discussions on this issue towards expeditious follow-up and agreed to meet soon for the next sessions of the JSC/JWG meetings to be hosted by the Indian side.

Nepal became an energy surplus country ever since the 456MW Upper Tamakoshi Hydropower Project came into full operation in August 2021. According to the Nepal Electric Authority, Nepal now has surplus power even during peak hours, usually between 7 and 8 pm.

The peak hour demand stands at 1,500MW. The country is currently producing 2,000MW of electricity, of which 1,900MW is generated from hydropower projects, it said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)