ocean energy

World Bank and Alternative Energy Promotion Centre help Nepal with hydro project

The World Bank and Alternative Energy Promotion Centre have signed up to an emissions reductions purchase agreement for future and present hydro projects in Nepal. The projects will allow 142,000 households to receive power. The Alternative Energy Promotion Centre in Nepal is promoting renewable energy projects in Nepal. These projects include micro-hydro, solar, wind, and biogas. The World Bank is currently has a project called Power Development Project, whose purpose it is to offset carbon emissions and provide increased access to electricity for people living in rural areas. The project it is hoped will have 15 MW installed by 2011. The capacity of the micro hydro plants will vary from 5 to 500 kW. The aim is to have local communities manage the plants with private companies receiving subsidies and loans in addition to technical assistance.

AEPC will sell the 191,000 tons of CO2 emissions as offests till 2012 to the Community Development Carbon Fund. This fund is managed by the World Bank. Eventually he reductions in emissions could be raised by another 100,000 tons.

For additional information:

http://www.worldbank.org/

http://www.aepcnepal.org/