Empowering South Asia: BBIN Power Summit Emphasizing Collaboration, Innovation, and Sustainable Growth
The South Asia (BBIN) Power Summit, organised by the Confederation of Indian Industry (CII) with the support of Ministry of Power and Ministry of External Affairs, Government of India on 19th December 2023 brought together key stakeholders from the region to discuss the challenges and opportunities in the energy sector.
The Inaugural Session featured distinguished dignitaries who shared valuable insights into the region's energy dynamics and the importance of collaboration for sustainable development.
Mr. Ashish Upadhyaya, Special Secretary, Ministry of Power, Government of India, emphasized the need for increasing capacities in the backdrop of a rising economy. Recognizing diverse energy resources, he advocated for stable policies, strategic planning against global disruptions, and collaboration between India and Nepal for mutual economic development.
Mr. Gopal Prasad Sigdel, Secretary of the Ministry of Energy, Water Resources, and Irrigation, Government of Nepal, highlighted historical events shaping South Asian Power Cooperation. "India is committed to net-zero emissions by 2070; this can be supported by Nepal and Bhutan by cooperating in the hydropower sector." He underlined the need of cooperation in the power sector and the changing role of cross-border power trading. Mr. Sigdel suggested policies such as a knowledge exchange platform, cross-border committees, financial support, and a framework agreement.
“We can incorporate best practices from around the world and progress with the collective spirit of growth and prosperity”, said H.E. Mr. Md. Mustafizur Rahman, High Commissioner of Bangladesh to India, while acknowledging the pivotal role of energy in sustaining the region's rapid economic growth.
Mr. Srikant Nagulapalli, Additional Secretary, Ministry of Power, Government of India, stressed that "securing adequate, reliable, and affordable power supply is the topmost priority of all these countries" because South Asia's energy landscape is at a critical juncture. He advocated for interconnecting electric grids to share resources and enhance energy security, emphasizing the potential for jobs, growth, and a sustainable future through clean energy cooperation. Mr. Nagulapalli highlighted the need for a comprehensive transmission plan and fast-tracked construction of transmission lines.
Ms. Seema Arora, Deputy Director General of the Confederation of Indian Industry, acknowledged the common purpose and diverse energy sources in the BBIN region, emphasizing the need to leverage this diversity for mutual benefit. Ms. Arora highlighted the role of the private sector in developing investment models and stressed the importance of government frameworks and building upon successful bilateral mechanisms.
Dr. Rajib Kumar Mishra, Co-Chairman of CII Core Group on Energy Security and Chairman of PTC India Limited, highlighted the remarkable 3.4 times growth in capacity addition over the last seven years. Stressing on the challenges, he emphasized the importance of transmission infrastructure, regulatory frameworks, and ambitious cross-border targets. Dr. Mishra urged collaborative efforts to address the low per capita energy consumption in the populous region.
Ms. Malavika Pillai, Principal Investment Officer and Infrastructure Country Anchor of India at IFC, underscored the significance of sustainable power sources, proposing the emergence of a powerful regional grid. She urged collective thinking on ways to engage the private sector effectively in the power sector's development.
The summit concluded with a sense of optimism and commitment to fostering regional growth and prosperity through collaborative efforts in the power sector. The participants recognised the need for sustained dialogue and collective action to address the region's energy challenges and unlock its immense potential for clean and sustainable energy development.
19 December 2023
New Delhi