Nepal, South Korea Sign MoU to Develop Green Hydrogen Plant

Kathmandu: The Investment Board Nepal (IBN) has signed a memorandum of understanding (MoU) with South Korea’s G-Philos Company Limited to prepare a detailed feasibility study report for establishing a green hydrogen and fuel cell plant in Nepal.

The MoU was signed by IBN Chief Executive Officer Sushil Gyawali and G-Philos CEO Ga Woo Park. The signing ceremony was witnessed by Korean Ambassador Park Tae-Young, along with senior government officials, private sector representatives, and policy experts.

According to IBN, the collaboration is expected to pave the way for investment approval for establishing, developing, and operating a green hydrogen and fuel cell plant in Nepal at an estimated cost of Rs 6.8 billion. The project will be developed under the Public-Private Partnership (PPP) model.

Nepal’s journey toward green hydrogen development began during the tenure of former Prime Minister KP Sharma Oli, when the Asian Development Bank (ADB) carried out a study in 2077 BS on the potential of producing hydrogen using Nepal’s abundant hydropower resources. In the same year, Kathmandu University set up a Green Hydrogen Laboratory to advance research in this emerging sector.

Recognizing the global shift toward clean energy, Nepal has prioritized renewable energy production, including green hydrogen, in line with its international commitment to achieve net-zero carbon emissions. In this context, the government has endorsed the Green Hydrogen Policy, 2080 BS, which provides a framework to promote investment and facilitate the growth of this sector, IBN stated.

(RSS)