A new grant scheme, Renewable Energy and Energy Efficiency Programme – Green Recovery and Empowerment with Energy in Nepal (REEP-GREEN), has been launched today, with the goal of encouraging industries and businesses across Nepal to adopt energy efficiency measures.
Managed by Rastriya Banijya Bank Limited, the primary objective of this grant scheme is to promote the efficient use of energy, reduce consumption, foster sustainable industrial development in Nepal, and lower carbon emissions.
Under this initiative, partial grants will be provided by Rastriya Banijya Bank to support the implementation of energy efficiency measures recommended by certified Energy Auditors. The grants will cover a percentage of the total investment required for these measures. To qualify, industries and businesses must adhere to the principles of limited work and environmental standards.
This initiative is designed to address the financial challenges faced by industries in adopting energy efficiency measures, encouraging entrepreneurs to invest in energy-saving technologies. By doing so, it is expected to reduce energy costs, an important aspect of energy efficiency, while also providing environmental benefits and boosting foreign exchange earnings.
The launch of this grant scheme is a significant step toward bridging the gap between awareness and implementation of energy efficiency in Nepal’s industrial and commercial sectors. The initiative seeks to promote sustainable energy practices, integrate circular economy principles, and encourage decent work practices in industries and businesses. This grant scheme underscores Nepal’s commitment to sustainable energy solutions, offering industries practical ways to contribute to energy conservation, adopt climate-friendly practices, and embrace decent work principles.
Implemented by the Ministry of Energy, Water Resources, and Irrigation, the program receives technical support from the German Development Cooperation (GIZ) and financial backing from the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Union. The program’s primary goal is to create the necessary regulatory and institutional framework to foster private sector participation in promoting renewable energy and energy efficiency initiatives in Nepal. Rastriya Banijya Bank Limited manages the grants available to support energy promotion in industries and businesses, aiming to drive the sustainable use and production of energy across the country.
