Kathmandu. A Memorandum of Understanding (MoU) has been signed to set up a green hydrogen plant and fuel cell plant in Nepal.

Investment Board Nepal and South Korean company G-Philos Company Limited have officially signed a Memorandum of Understanding (MoU) to prepare a detailed feasibility study report on the establishment of green hydrogen plant and fuel cell plant.

Sushil Gyawali, CHIEF Executive Officer (CEO) of Investment Board and Ga Wu Park, CHIEF Executive Officer of G-Philos Company Limited signed the MoU on behalf of their respective sides.

According to the MoU, the proposing company G-Philos Company Limited will prepare a detailed feasibility study report after obtaining the survey license from the Investment Board and submit it to the Investment Board office within about 10 months. According to the Investment Board, rs 7 billion will be invested to set up the study plant. The company has proposed to produce 20 MW of green hydrogen in the initial phase.

At the signing ceremony, Ceo gyawali expressed the belief that the academic sector would also play an important role in such projects and such projects would play an important role in the exchange of capital and technology in a country like Nepal. Expressing confidence that the proposer company would submit the quality report within the stipulated time, he expressed commitment to establish a green hydrogen plant in Nepal as soon as possible after the study.

South Korea’s Ambassador to Nepal Park Tae-yong pointed out the huge potential of such renewable clean energy in Nepal and said such projects would prove to be a milestone in achieving the Sustainable Development Goals (SDGs) reflected by Nepal. He expressed the belief that the bilateral relations between Nepal and South Korea would add a new dimension.

On the occasion, Chairman of The Electricity Regulatory Commission Dr Ram Prasad Dhital said that green hydrogen would be useful for Nepal as it is an investible project.

Director General of the Department of Power Development, Jibacha Mandal, stressed that Nepal should give priority to such projects. Joint Secretary at the Ministry of Energy, Water Resources and Irrigation, Chiranjibi Chataut, said it was a useful project for Nepal and it should be implemented.

Nepal Electricity Authority (NEA) Managing Director Hitendra Dev Shakya expressed happiness over the signing of the new technology and stressed the need to move ahead with the establishment of green hydrogen plant after completing detailed study. He said that it would be developed on the basis of its cost and utility as it is a new technology for Nepal.

Kathmandu University researcher Dr Biraj Singh Thapa, who is active in the study and research of green hydrogen, gave his presentation on the existing policy and legal provisions regarding green hydrogen in Nepal, its multi-dimensional benefits and the use of such energy in the coming days.

According to Baburaj Adhikari, joint-secretary at the Office of the Investment Board, the proposer company G-Philos Company Limited had submitted a proposal to the Investment Board office on May 15 for the establishment, development and operation of green hydrogen and fuel cell plant in Nepal on public-private partnership format.