Banke . Discussions have been held with foreign investors for renewable solar energy production in Narainapur Rural Municipality of Banke. Narainapur Rural Municipality Chairman Syed Ishtiaq Ahmed Shah said that discussions have been held with foreign investors to operate the project with the aim of producing solar energy.

Narainapur Rural Municipality Chairman Shah, Lumbini Province Assembly Member Krishna KC Namuna, Khajura Rural Municipality Ward No. 2 Ward Chairman Dhaniram Oli, and solar energy expert Bharat Bishwakarma held extensive discussions with Indian investors regarding the new project in Nepalgunj on Saturday. Since Narainapur is the most backward area not only in the district but also in this region, locals have claimed that if solar energy can be produced here, the face of this municipality will change.

Narainapur has taken steps to collaborate with foreign investors to bring new projects to bring land into integrated use and generate income. Narainapur Chairman Shah said that steps have been taken to collaborate with foreign investors to bring all the vacant land in Narainapur into integrated use.

Indian investor Rohanraj Headje said that he is willing to invest about Rs 700 million to produce solar energy from a solar system based on Narainapur and Banke district. He said that if there is smooth coordination from the government level, they will contribute to the 'Happy Nepal, Prosperous Nepal' campaign by producing solar energy from Narainapur in the near future.

The investor said that the project initially plans to produce 17.61 million units of electricity annually from 10 megawatts and connect it directly to the grid.

Stating that discussions have begun on the issue of solar energy installation with the aim of contributing to the 'Happy Nepal, Prosperous Nepal' campaign, Lumbini Provincial Assembly member KC said that if the project is implemented, it will be easier for the citizens of not only Narainapur but also Rapti Sonari and Duduwa Rural Municipality to do agriculture and other businesses.

According to the Renewable Energy Subsidy Policy, 2078, there is a facility to get a bank loan in five-year monthly installments to install solar energy systems with a peak capacity of more than 1,500 watts for commercial purposes and a peak capacity of more than 500 watts for household purposes. When taking such a loan, there is a provision to provide 50 percent of the interest amount for commercial purposes and 75 percent of the interest amount for household purposes through the bank as a subsidy.

Similarly, the Central Renewable Energy Fund Operation Directive, 2071 states that captive projects that are connected to the national transmission system and self-use at least 51 percent of the electricity generated annually will get an interest subsidy of up to 50 percent of the interest rate specified by the financial institution for five years. Similarly, there is a provision to provide Viability Gap Funding (VGF) of a maximum of one rupee fifty paisa per unit of electricity generated for five years.