Hydropower companies in Sri Lanka held discussions recently with Nepal's Ministry of Energy, Water Resources and Irrigation (MOEWRI) and Nepal Electricity Authority (NEA) on the investment opportunities for hydropower development.

Given Sri Lanka's expertise in the field, particularly in small hydropower projects, prospects for joint collaborations are many, the Export Development Board (EDB) said in a statement.

Nepal has the potential to generate 42,130MW of hydroelectricity that is technically and economically viable while only a fraction of that (1476MW) is being generated at present.

In the virtual meeting held with the relevant authorities in Nepal, the Small Hydropower Developers' Association of Sri Lanka conveyed their keen interest to invest in that country’s hydropower sector, particularly given the opportunities for small projects which is a niche expertise area for Sri Lankan companies.

The credibility and confidence accrued from international experience and partnerships has enhanced Sri Lankan hydropower developers' ability to seek overseas funding, the EDB said.