KATHMANDU: An agreement has been signed with South Korean company G-Philos Co Ltd to prepare a detailed feasibility study report for the establishment of a green hydrogen and fuel cell plant in Nepal.
The Memorandum of Understanding (MoU) was signed by Office of the Investment Board Nepal (OIBN) CEO Sushil Gyawali and G-Philos CEO Ga Woo Park in Kathmandu on Thursday.
Under the agreement, G-Philos, after obtaining a survey license from the OIBN, will prepare a comprehensive feasibility study report and submit it to the board within 10 months.
Speaking on the occasion, South Korean Ambassador to Nepal, Park Tae-Young, said Nepal holds abundant potential for renewable and clean energy projects. He expressed confidence that such initiatives would serve as a cornerstone for achieving Nepal’s sustainable development goals (SDGs) and would add a new dimension to bilateral relations between Nepal and South Korea.
Similarly, CEO Gyawali said academic and research institutions will also play a significant role in such projects. He said such initiatives are crucial for capital and technology exchange in a country like Nepal. “We will more ahead with establishing the green hydrogen plant in Nepal as soon as possible after the study,” he said.
G-Philos had submitted a proposal to the OIBN on April 28 for the development, establishment and operation of a green hydrogen and fuel cell plant in Nepal under a public-private partnership model.
The 63rd board meeting of the OIBN had decided to sign MoU with G-Philos and grant the survey license.
