A new grant scheme under the Renewable Energy and Energy Efficiency Programme–Green Recovery and Empowerment with Energy in Nepal (REEEP-GREEN)—was launched on Thursday, aiming to help industries and enterprises adopt energy-efficient practices.

Managed by Rastriya Banijya Bank Limited (RBBL), the scheme provides grants to cover a percentage of the total investment for energy efficiency measures identified through audits by certified local energy auditors. It prioritises energy efficiency, decent work approaches, and adherence to environmental standards.

The programme is designed to reduce energy costs, improve productivity, and minimise industries’ carbon footprints. It also contributes to optimising production processes, preserving natural resources, and enhancing competitiveness by integrating circular economy principles and improving system reliability.

REEEP-GREEN is a technical cooperation project involving the government of Nepal, the Federal Republic of Germany, and the European Union. With support from GIZ, representing the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Union, the project is implemented by Nepal’s Ministry of Energy, Water Resources and Irrigation.

“The scheme’s benefits aim to demonstrate the viability of sustainable practices and support the development of business cases for loan and blended financing initiatives in both public and private sectors,” read a press release jointly issued by the stakeholders. “It is expected to encourage more industries to adopt energy-efficient measures and contribute to Nepal’s sustainable development.”