Many US companies interested in Nepal's hydro sector

Embassy of the United States in Kathmandu has stated that many American companies have expressed interest to invest in Nepal´s hydropower sector. Although challenges remain, US Ambassador Peter Bodde, during a conference call with the American businesspersons, pointed out that Nepal has the second-largest hydropower resources in the world and that less than one percent potential has been tabbed so far. According to a press statement issued by the embassy on Friday, Ambassador Bodde had conferred with the US businesspersons on energy and infrastructure sector and had given an overview of the economics and business climate in Nepal. Then he took participants´ question, including queries about upcoming hydropower summits in Kathmandu. Independent Power Producers´ Association, Nepal and Hydroelectricity Investment and Development Company Limited are organizing separate power conferences next week to draw the attention of the investors to Nepal´s largely untapped energy sector. Twelve participants, representing energy and infrastructure industries, including some with a history of investing in Nepal, had participated in the conference call. The US Embassy also pledged of the assistance to the American companies interested in investing in Nepal.