The Investment Board Nepal (IBN) and G-Philos Co., Ltd., Korea, have officially signed a Memorandum of Understanding (MoU) for the preparation of a Detailed Feasibility Study Report on the establishment of a Green Hydrogen Plant and Fuel Cell Plant in Nepal. The MoU was signed today by Mr. Sushil Gyewali, CEO of IBN, and Mr. Ga Woo Park, CEO of G-Philos Co., Ltd. The signing ceremony was witnessed by H.E. PARK Tae-Young, Ambassador of the Republic of Korea, along with government officials, private sector representatives, and think tanks. This collaboration is expected to pave the way for investment approval for establishing, developing, and operating a Green Hydrogen and Fuel Cell Plant in Nepal, with an estimated cost of NPR 6,821,500,000.00, to be developed under the Public-Private Partnership (PPP) model.
The journey toward green hydrogen development in Nepal began with the special initiative of the Rt. Hon’ble Prime Minister Mr. KP Sharma Oli during his previous tenure, when the Asian Development Bank conducted a study in 2077 B.S. on the potential of producing hydrogen using Nepal’s abundant hydropower resources. In the same year, Kathmandu University established a Green Hydrogen Laboratory to advance research and explore the prospects and requirements of green hydrogen in the national context.
Recognizing the importance of clean energy, Nepal has prioritized the production and use of renewable energy, including green hydrogen, in line with its recent international commitment to achieve net-zero carbon emissions. In this spirit, the Government of Nepal has endorsed the Green Hydrogen Policy, 2080 B.S., providing a policy framework to promote and facilitate investment in this emerging sector.
