South Korean firm G-Philos Ltd. will undertake a detailed feasibility study to explore the development of a green hydrogen plant and fuel cell facility in Nepal.
The Investment Board Nepal (IBN) and G-Philos signed a memorandum of understanding (MoU) on Thursday, August 28, to prepare the feasibility study report. The MoU was signed by Sushil Gyawali, CEO of IBN, and Gawoo Park, CEO of G-Philos.
Under the agreement, G-Philos is expected to submit the feasibility report within 10 months after securing a survey permit, IBN said in a statement.
The company had initially submitted its proposal to IBN on April 28, 2025 to develop and operate a green hydrogen and fuel cell plant in Nepal through a public-private partnership. The proposal was approved, and a survey permit was granted during IBN’s 63rd board meeting, the statement added.
At the signing ceremony, South Korean Ambassador to Nepal, Park Tae-Young, highlighted Nepal’s renewable energy potential and said the project could serve as a milestone in achieving the country’s sustainable development goals while strengthening bilateral ties.
The event was attended by Dr. Ram Prasad Dhital, Chairperson of the Electricity Regulatory Commission; Jeebachh Mandal, Director General of the Department of Electricity Development; Chiranjeevi Chataut, Joint Secretary at the Ministry of Energy, Water Resources and Irrigation; Hitendra Dev Shakya, Managing Director of the Nepal Electricity Authority; and Dr. Biraj Singh Thapa, a Kathmandu University researcher specializing in green hydrogen.
IBN CEO Gyawali emphasised the critical role of the academic sector in such projects, noting that they could facilitate technology transfer, and knowledge exchange in Nepal.
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