IPPAN Welcomes Ratification of MCC Compact   

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IPPAN Welcomes Ratification of MCC Compact   

March 2: The Independent Power Producers Association of Nepal (IPPAN) has welcomed the ratification of the US grant project, Millennium Challenge Corporation (MCC) compact, by the parliament.    

IPPAN said the ratification of the MCC compact has added a new dimension in the development of Nepal's power sector.    

IPPAN's vice-president Ashish Garg said at a press conference organized in the capital on Wednesday that the endorsement of the MCC compact by Nepal's parliament has elated the independent power producers and promoters who have been facing problem particularly due to the lack of transmission lines. He added that the compact has also opened new door of opportunities for them.    

Garg viewed that the MCC compact will support the country's journey towards economic prosperity.  

The press conference was organized to give information about the Third Himalayan Hydro Expo. The expo is being organized at Bhrikutimandap from April 1 to 3. The goal of the expo is to promote domestic consumption of electricity and electricity trade. The event is being organized by IPPAN and it will include 100 stalls related to hydroelectricity promoters, producers, equipment suppliers, turbine manufacturers, investors, banks, insurance companies, among others.    

The expo will also have stalls related to new technology and construction. It also aims to promote the international market for Nepal's hydroelectricity. -- RSS    

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