New Delhi, Sept 22 : Minister of State for Commerce and Power Jairam Ramesh and a 60 member delegation will participate in the Third Indo-Nepal Power Summit 2008 from September 23 in Kathmandu.

The two-day summit will explore possibilities of hydropower project cooperation between Nepal and India.

Nepal’s Home Minister Bam Dev Gautam will inaugurate the summit. About 300 delegates from Nepal and India will attend it.

Leading power developers from India, including GMR, L and T, Sutlaj JVN, Jindal and IL and FS are taking part in the summit.

The Nepal Government is organizing the summit in collaboration with the Nepal India Chamber of Commerce and Industries (NICCI) and the Independent Power Producers Association of Nepal (IPPAN) with support from India''s Power Trading Corporation (PTC).

During the summit, issues like the impact of Nepal''s hydro power policies on future power projects, risks associated in financing power projects, availability of credit in financing power projects and installation of transmission lines to facilitate power exchange will be discussed.

T N Thakur, the chairman of PTC India Limited, said: “This kind of discussion forum would highlight the multiple benefits that can accrue from balanced development of Nepal’s hydropower, including thorough use of power trading options.”

“This platform would also address the current situation, impediments and future prospects of power trade and the development of the power sector as a whole,” he added.

IPPAN President, Sandeep Shah, said: “The summit aims to showcase the tremendous opportunities that Nepal has to offer in the area of hydropower.”

“With its abundant water resources, Nepal is an ideal destination for renewable power projects, including hydropower and investments as well,” Shah added.

Senior delegates from both India and Nepal will exchange their views, experience and expertise in hydropower sector with each other during the summit.

The summit is expected to open new doors of cooperation between Nepal and India in hydropower sector that would lead to economic prosperity and overall development of both the countries at a time when the Maoist led government in Nepal has spelt an ambitious plan to generate 10,000 MW of power within the next ten years. (ANI)