A two-day Energy Summit began in the capital on Thursday.

Addressing the summit, Energy Minister Barshaman Pun said that energy development is crucial for the country's economic development. "Nepal government is committed to attract foreign investment in the energy sector," he said.

Minister Pun said that Nepal will generate 5000 megawatt electricity once some of the ongoing hydropower projects are completed in couple of years. "Meanwhile, Nepal's current electricity demand is only 1320 megawatt," he said.

The minister said that Nepal's major electricity markets are India and Bangladesh.

Around 70 experts from various countries are making their presentations during the summit.

Independent Power Producers Association Nepal (IPPAN), the organizer, stated that eminent experts from Nepal, China, India, Bangladesh, Bhutan, Japan, the Netherlands, United States, Canada, and Norway are taking part during the summit.

The event will be held on November 21 and 22 under the theme "Powering the Asian Century". Over 700 guests from various countries are expected to participate during the summit.

IPPAN Chairperson Shailendra Guragain said that the experts are scheduled to deliver their deliberations on a number of topics including regional power trade, electricity market, regulation, and financing, sustainable development, execution and facilitation of the energy projects in the federal structure, foreign investment in hydropower and among others.

"All the preparations for the summit are underway," he said.

The summit is being organized under the patronage of Nepal government's Ministry of Energy, Water Resources and Irrigation