Impact-based power producer and investment manager, Bizbell, has become the first Nepali member of the International Hydropower Association (IHA).
As a responsible investor, Bizbell’s mission is to connect investors seeking stable returns while expanding renewable energy access to communities around Nepal.
Founded by a group of experienced entrepreneurs, planners and researchers in 2014, Bizbell has a team of highly experienced professionals in the clean energy sector. Bizbell has a renewable energy portfolio of 1000 MW and offers impact-based return on investment.
Focused on driving change for a sustainable world while engaging in the community by developing 70 MW of hydropower in the remote, western part of Nepal, Bizbell is creating jobs and engaging in the micro economy of their community. This includes over 15 subsidiary companies and joint ventures.
IHA Deputy CEO, Pablo Valverde, commented: “Make no mistake about it, sustainable hydropower will be key for Asia’s continued growth and independence from carbon. We need more companies like Bizbell, our first member from Nepal, who not only share our mission to promote sustainable hydropower but actively work to propel it forward in the region.”
The Nepalese are no strangers to the world of hydropower, with impressive national research centres like the International Centre for Integrated Mountain Development (ICIMOD) and Hydro Lab. Nepal is at the forefront of the movement towards renewable energy in South Asia.
The International Energy Agency published a report indicating that hydropower accounts for 14.5% of total electricity generation in South and Southeast Asia, and in Nepal, hydropower accounts for over 90%. The installed hydropower capacity is expected to grow further to meet the region’s growing electricity demand and elec-tricity export opportunities, and to maximise the merits of a cost-effective and flexible low-carbon power source.
Co-founder of Bizbell, Sushil Pokharel, added: “As Nepal is considered to be the fourth most vulnerable country on the planet due to the harmful effects of climate change, it is our priority to strike the right balance between sustainability and economic development. We need a holistic approach to protect our natural resources for future generations and sustainable hydropower projects are great examples of how we can do this. I strongly believe that environmental and social risks should factor in all stages of hydropower project development, and we are committed to sustainable hydropower.”
