Kathmandu, Aug 28:ย The Investment Board Nepal (IBN) and G-Philos Co., Ltd., Korea, have signed a Memorandum of Understanding (MoU) today for the preparation of a Detailed Feasibility Study Report on establishing a Green Hydrogen Plant and Fuel Cell Plant in Nepal.
The MoU was signed by Mr. Sushil Gyewali, CEO of IBN, and Mr. Ga Woo Park, CEO of G-Philos Co., Ltd., in the presence of H.E. PARK Tae-Young, Ambassador of the Republic of Korea, along with government officials, and representatives from development partners, private sector, and think tanks.
Following the signing, Mr. Gyewali and Mr. Park met with the Hon. Minister of Finance and Vice Chairperson of IBN, Mr. Bishnu Paudel, at the Ministry of Finance to discuss the initiative. The meeting highlighted Nepalโs commitment to clean energy, emphasizing the prioritization of renewable energy production, including green hydrogen, in line with the nationโs pledge to achieve net-zero carbon emissions.
This collaboration, with an estimated investment of NPR 6.8 Billion under the Public-Private Partnership (PPP) model, marks a significant step toward establishing, developing, and operating a Green Hydrogen and Fuel Cell Plant in Nepal.
The journey began with the special initiative of the Honโble Prime Minister Mr. KP Sharma Oli during his previous tenure, supported by a study in 2077 B.S. (2020 AD) by the Asian Development Bank on hydrogen production using Nepalโs abundant hydropower resources. That same year, Kathmandu University established a Green Hydrogen Laboratory to advance research in this field.
With the endorsement of the Green Hydrogen Policy, 2080 B.S. (2023 AD), Nepal has created a robust policy framework to promote and facilitate investment in this emerging sector, reinforcing its commitment to a sustainable, net-zero future.
