KATHMANDU: Businessman Upendra Mahato has called for greater Russian participation in Nepal’s hydropower sector, highlighting the country’s vast energy potential and investment opportunities during the St. Petersburg International Economic Forum (SPIEF) 2026.

Addressing the session titled “25 Years of the SCO: A New Stage in the Development of the Trade, Economic, and Business Agenda” via video link, Mahato said Nepal offers significant opportunities for investment in hydropower generation and electricity transmission infrastructure.

He underscored Nepal’s strategic position as a dialogue partner of the Shanghai Cooperation Organisation (SCO), citing its close relations with both India and China. Mahato also pointed to the country’s current political environment, saying the government enjoys a strong parliamentary majority that provides favorable conditions for stability and economic development.

Emphasizing Nepal’s abundant hydropower resources, Mahato said the country’s rivers and Himalayan geography provide natural advantages for electricity generation at a time when global demand for energy is rising due to the expansion of artificial intelligence and digital infrastructure.

He noted that Nepal has the potential to meet growing domestic energy needs, support large-scale data centers, and expand electricity exports to India and Bangladesh. Mahato encouraged international investors to explore opportunities in both power generation and transmission projects.

He also proposed the development of a Russia-Nepal-India energy cooperation.