Kathmandu, Aug 29: A South Korean company is set to establish a green hydrogen and fuel cell plant in Nepal. For this purpose, a memorandum of understanding was signed between the Investment Board Nepal and South Korea’s G-Philos Cooperative Limited.
At a program held in Kathmandu on Thursday (August 29), the two sides agreed to prepare a detailed feasibility study report. If successful, this will mark the first production of green hydrogen and the introduction of fuel cell technology in Nepal.
As per the agreement, the Korean company will provide technology, experience, and investment prospects, while the Investment Board will extend necessary policy and technical support.
Green hydrogen is considered a clean energy source of the future. It is expected to further expand the scope of renewable energy in Nepal. The project is believed to help in the growth of eco-friendly industries, job creation, and sustainable energy security.
According to the Investment Board, G-Philos has proposed an investment of over 7 billion rupees. The company will carry out hydrogen studies and plans to begin production with a capacity of 20 megawatts.
The exact location of the plant has not yet been decided. This is the first foreign investment proposal in Nepal for a green hydrogen plant. The plant aims to use excess hydropower from Nepal to produce green hydrogen through electrolysis, a chemical process involving water and electricity. Green hydrogen can be used in steel and fertilizer industries, ammonium nitrate production, and storage.
The 63rd meeting of the Investment Board on May 26 had already approved the company to conduct a detailed feasibility study for a pilot green hydrogen production plant and fuel cell installation in Nepal.
The MoU signing ceremony was attended by Investment Board CEO Sushil Gyawali, Nepal Electricity Authority Executive Director Hitendra Dev Shakya, and other officials.
People’s News Monitoring Service
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