Kathmandu. The Investment Board and South Korean company G-Philos Company signed a Memorandum of Understanding (MoU) today on preparation of detailed feasibility study report for setting up green hydrogen plant and fuel cell in Nepal.
Sushil Gyawali, CHIEF Executive Officer of Investment Board and Ga Wu Park, CHIEF Executive Officer of G-Philos Company signed the MoU on behalf of their respective sides. According to the MoU, the proposing company G-Philos 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.
South Korea’s Ambassador to Nepal Park Tae-yong delivered a special address on the occasion and pointed out the huge potential of such renewable clean energy in Nepal. He expressed the belief that such projects would prove to be a milestone in the achievement of the Sustainable Development Goals (SDGs) reflected by Nepal and add a new dimension to the bilateral relations between Nepal and South Korea.
Chairman of The Electricity Regulatory Commission Dr Ram Prasad Dhital, Director General of the Department of Power Development Jivchha Mandal, Joint Secretary at the Ministry of Energy, Water Resources and Irrigation Chiranjibi Chataut, Executive Director of Nepal Electricity Authority Hitendra Dev Shakya and Kathmandu University researcher Dr Biraj Singh Thapa, who is active in the study and research of green hydrogen, said that the existing policy and legal arrangements regarding green hydrogen in Nepal, its multi-dimensional benefits and the use of such energy in the coming days. He made his speech.
In his concluding remarks, 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, Gyawali also expressed commitment to establish a green hydrogen plant in Nepal as soon as possible after the study.
The 63rd board meeting of the Investment Board had decided to grant survey permission after signing an agreement with the proposer company as G-Philos had submitted a proposal to the Investment Board office on May 15, 2082 for the establishment, development and operation of green hydrogen and fuel cell plants in Nepal in public-private partnership format.
