NMB in Renewable Energy and Energy Efficiency
Nepal is focused on maintaining a proper energy mix with Renewable Energy. NMB has been actively involved in providing financing and services to companies related to Renewable Energy Sector such as solar, biogas, micro-hydro, clean cook stoves, solar dryer, solar pumping and improved water mill (IWM) that can provide alternative mode of energy to our energy deprived country. A separate Renewable Energy Department 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 Department has been bridging the gap of working capital requirement that can arise to companies involved in renewable energy due to their heavy dependence on AEPC’s Subsidy. Also, gaining experience through years of involvement in micro-hydro, solar 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 generate energy by themselves can find a solution by availing our easy and popular “Roof Top Solar Loan”.
In addition, the Bank has focused its investment on Green Home Loans and Energy Efficiency. Individuals and businesses willing to own green buildings and use energy efficient products can apply for loan facility. The bank also encourages for replacement of existing technologies to energy efficient technologies.
The bank is working in a cooperative effort with Micro Finance institutions for providing access to energy in Rural areas (especially off grid locations). The bank has been collaborating with various International Agencies and Development Partners for the promotion and development of RE sector in the country. The efforts are expected to create a self sufficient community by enhancing energy access and energy security in the country.