Despite having enormous potential of over 83,500 MW of hydroelectricity, and abundant potential of other renewable sources of energy such as Solar, Wind power, geothermal energy, Nepal is still reeling through 14-hour-a-day load shedding leading to a severe energy crisis during dry seasons.
Energy crisis has induced social insecurity, poor quality of life, and has substantially reduced production of factories, and performance of public, private businesses and individuals and thereby significantly increasing the cost of infrastructures development and delaying their construction. This is pushing the country towards the bottom of least developed countries list with poor economic growth of mere 3.8% during 2012 [World bank, 2012]. Muktishree Energy, a sister company of Muktishree Group has realized that the Energy Crisis is the main cause of the reduced economic performance of the country and, as a company, we strongly believe that the 83,500 MW of Hydropower potential of Nepal can be tapped not only to address the energy needs of domestic market but also to contribute to fulfilling the energy needs of regional market of our friendly neighbours – India and China.
It has aim of developing hydropower plants from different potential water sources situated in various locations of Nepal. In addition, we also plan to develop electricity transmission infrastructure for smooth transmission and supply of electricity produced.
In addition to hydropower development, Muktishree Energy is also aiming to tap renewable energy from other sources such as Biogas, biomass, solar etc. The company is also making considerations in further exploring and tapping other sources of energy such as natural gas etc.
Recently, Muktishree Energy has started initiatives to acquire license for exploration of natural gas with the department of mines.