South Asia Power Summit charts course for regional energy collaboration

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South Asia Power Summit charts course for regional energy collaboration

South Asia Power Summit charts course for regional energy collaboration

Industry News
Dec 20,23

The summit, a pivotal gathering of influential figures in the energy sector from the region, aimed to tackle existing challenges and explore new opportunities.

South Asia Power Summit charts course for regional energy collaboration

In a significant stride toward fostering regional energy cooperation, Ashish Upadhyaya, Special Secretary of the Union Ministry of Power, stressed the urgent imperative of expanding energy capacities in South Asia.

Addressing the South Asia (BBIN) Power Summit held in New Delhi and organised by the Confederation of Indian Industry (CII) with support from the Indian government, Upadhyaya underscored the role of strategic planning and stable policies in the context of the region's economic growth.

The summit, a pivotal gathering of influential figures in the energy sector from the region, aimed to tackle existing challenges and explore new opportunities.

Upadhyaya particularly emphasised the importance of collaboration between India and Nepal in the energy sector for mutual economic benefit.

Gopal Prasad Sigdel, Nepal's Secretary of the Ministry of Energy, Water Resources, and Irrigation, spoke about the historic developments in South Asian Power Cooperation and Nepal's role in supporting India's commitment to achieving net-zero emissions by 2070, particularly through hydropower collaboration.

"India is committed to net-zero emissions by 2070; this can be supported by Nepal and Bhutan through cooperation in the hydropower sector," he said. He also highlighted the need for cooperation in the power sector and the evolving role of cross-border power trading.

Md Mustafizur Rahman, High Commissioner of Bangladesh to India, stressed the critical role of energy in the region's economic development and urged the adoption of global best practices for collective growth.

"We can incorporate best practices from around the world and progress with the collective spirit of growth and prosperity," said Rahman, acknowledging the pivotal role of energy in sustaining the region's rapid economic growth.

Adding to the discussion, Srikant Nagulapalli, Additional Secretary at the Ministry of Power, India, pointed out the necessity of securing a reliable and affordable power supply for South Asian countries. He proposed interconnecting electric grids as a means to share resources and enhance energy security.

Seema Arora, Deputy Director General of CII, emphasised the potential of the region's diverse energy sources and the role of the private sector in developing effective investment models under supportive government frameworks.

Rajib Kumar Mishra, Co-Chairman of CII's Core Group on Energy Security, highlighted the significant increase in capacity addition in recent years and the accompanying challenges. He called for enhanced transmission infrastructure and ambitious cross-border energy targets.

Malavika Pillai, Principal Investment Officer at IFC, underscored the importance of sustainable power sources and the emergence of a robust regional power grid. She emphasised the need for collective efforts to engage the private sector in the power sector's development.

The summit concluded on a note of optimism, with a consensus on the importance of collaborative efforts for regional growth and the development of clean, sustainable energy in South Asia.

Source: ET Energy