KATHMANDU, Nepal (Diya TV) — India, Nepal, and Bangladesh have signed a trilateral agreement aimed at making it easier for Nepal to export electricity to Bangladesh. The trilateral cooperation agreement concluded during a signing ceremony held in Nepal’s capital city Kathmandu, is expected to further tighten the energy ties of the three countries and foster energy security.

Minister for Energy, Water Resources and Irrigation Shakti Bahadur Basnet said the agreement marked a milestone in the efforts towards clean energy and economic development of the region. “This agreement marks a milestone in our efforts to promote clean energy and boost economic development in the region. Exporting hydropower can help meet our energy goals, but it can also back up our neighbors’ moves toward sustainable power supply.”

The deal will allow as much as 1,000 megawatts of electricity from Nepal to be imported into Bangladesh and become a sure source for fulfilling the rising demand of the Bangladeshi market. Nasrul Hamid, Bangladesh State Minister for Power, Energy and Mineral Resources, welcomes cooperation. “This partnership will improve our energy security and facilitate our development process,” said Hamid.

Coming at a time when Nepal has successfully completed a number of hydroelectric projects, including the Upper Tamakoshi and Arun-3, this trilateral initiative is in keeping with a much larger increase in the country’s power generation capacities. The think tank believes that this collaboration would unlock hydropower potential for Nepal while letting development dividends accrue for regional economic expansion.

India’s role as a facilitator in this deal signifies its interest in pursuing cooperation with regard to energy in South Asia. India’s Power Minister, RK Singh, said inter-country cooperation was crucial to energy sustainability. “This agreement not only strengthens our ties with Nepal and Bangladesh but also sets a precedent for future energy partnerships in the region,” Singh said.

This goes a long way towards paving the way for other projects, such as building transmission lines- the very infrastructure needed to efficiently exchange energy. And in tandem with SAARC’s objectives of promoting cooperation in energy and infrastructure development, this agreement supports this agenda.

The trilateral agreement promises to be a pathway for the sustainability of energy in that region. Experts have already been anticipating the fact that not only would better economic growth be ensured by cooperation but that carbon emissions would also be reduced by encouraging more reliance on renewable sources of energy.

Over the coming months, three officials will work out logistics: regulatory frameworks and related infrastructure investments necessary for the implementation of a deal struck last month to share the region’s waters for a common electricity grid. Success in this agreement may well be replicated in future regional energy initiatives that could benefit millions across South Asia.