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Renewable energy

Nepal's Industrial Sector Takes a Step Towards Sustainability

Strategic Insights

— 2 min read

Rastriya Banijya Bank Limited (RBBL), a leading financial institution in Nepal, has made a significant contribution to the country's commitment to sustainable development. In a recent event, RBBL successfully disbursed the first round of financial grants to 10 industries that have implemented energy-efficient measures, totalling Rs 29 million. This initiative, part of the Renewable Energy and Energy Efficiency Programme - Green Recovery and Empowerment with Energy in Nepal (REEEP-GREEN) project, is jointly financed by the European Union and the German Federal Ministry for Economic Cooperation and Development (BMZ). The grant scheme aims to encourage industries to adopt efficient practices, fostering green growth and livelihood improvements across the country.

Key Takeaways:

  • Rastriya Banijya Bank Limited (RBBL) has disbursed Rs 29 million in financial grants to 10 industries adopting energy efficiency measures.
  • The grant scheme is part of the Renewable Energy and Energy Efficiency Programme - Green Recovery and Empowerment with Energy in Nepal (REEEP-GREEN) project, jointly financed by the European Union and the German Federal Ministry for Economic Cooperation and Development (BMZ).
  • The initiative supports industries with significant energy-saving potential in adopting efficient practices, fostering green growth and livelihood improvements across the country.
  • The scheme offers partial grant coverage of total investment costs, encouraging implementation of energy audit recommendations conducted by certified local auditors.
  • The priorities of the grant scheme include energy efficiency, decent work practices, and compliance with environmental compliance.
  • The event was attended by the Chief Executive Officer of RBBL, Devendra Raman Khanal, and representatives from the European Union, German Embassy, and GIZ Nepal, among others.
  • The grant-supported measures are expected to bring measurable reductions in energy consumption, approximately 36,788 MWh of annual energy savings over lifetime.
  • This initiative aligns with broad national objectives to promote sustainable industrial practices by integrating circular economy principles, adhering to environmental standards, and fostering decent work practices.
  • The benefits realised from the grant-supported measures will serve as a demonstration of concept to develop business cases for loan and blended financing-supported interventions in the public and private sectors.

Statistics:

  • Total grant disbursement: Rs 29 million
  • Number of industries supported: 10
  • Approximate annual energy savings: 36,788 MWh
  • Total investment costs covered: partial grant coverage
  • Certifying agencies conducting energy audits: certified local auditors
  • Total project funding: jointly financed by the European Union and the German Federal Ministry for Economic Cooperation and Development (BMZ)

Sources:

  • Rastriya Banijya Bank Limited (RBBL)
  • Renewable Energy and Energy Efficiency Programme - Green Recovery and Empowerment with Energy in Nepal (REEEP-GREEN) project
  • European Union
  • German Federal Ministry for Economic Cooperation and Development (BMZ)
  • Alternative Energy Promotion Centre
  • German Embassy
  • GIZ Nepal

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