NMB’s Indulgence in Renewable Energy (Bridging the Gap)
Taking into account the acute shortage of energy in the context of Nepal, NMB has been actively involved in providing financing and services to companies related to Renewable Energy Sector such as solar, biogas, micro-hydro, and improved water mill (IWM) installer companies that can provide alternative mode of energy to our energy deprived country. A separate Renewable Energy Unit has been established by NMB to meet the demands and challenges that arise to renewable energy vendors, consumers and other stakeholders. NMB works in close collaboration with Alternative Energy Promotion Center (AEPC), to bring forth the best solution and thus create a win-win situation for various stakeholders involved in the RE sector.
Our Renewable Energy Unit has been bridging the gap of working capital requirement that can arise to companies involved in renewable energy due to its heavy dependence on AEPC’s Subsidy. Also, gaining experience through years of indulgence in micro-hydro and IWM project financing, NMB has been able to provide financing to various remote village user committees enthusiastic to be self sufficient in generating their own alternative source of energy and providing last mile energy access to rural communities.
NMB’s involvement in Renewable Energy sector however does not end here: Over the years NMB has invested in electric vehicle (Safa Tempo, a popular mode of transport in capital city and also in personal electric vehicles). Also, households and companies that want to be free of the term “Load Shedding” can find a solution at NMB by availing our easy and popular “Solar Karja.”
Overall, NMB, through its RE unit, aims to bridge the gap between demand and supply of energy in the country: we provide solution to an individual trying to commute to work at times of fuel crisis through our electric vehicle financing, an alternative mode of energy to a company/household facing long hours of “Load shedding” through our solar karja facility, facilitate electrification of remotely located villages with no connection to national grid through mini grid based micro-hydro/solar mini grid project, and provide financing to solar and bio-gas companies to make installation in various remote parts of the country and thus create a self sufficient community by enhancing energy access and energy security in the country.