Under a Memorandum of Understanding (MOU), the two companies will prepare a Detailed Feasibility Study Report for the initiative. The plant is expected to need around $51m in total investment, from planning to commissioning.
Under a Public-Private Partnership (PPP) model, where both the government of Nepal, through the IBN, and the private sector partner, G-Philos, will share roles, responsibilities and risks.
If realised, the project would deliver the country’s first commercial-scale green hydrogen and fuel cell project. The project could leverage Nepal’s abundant hydropower as a feedstock for hydrogen production.
The nation has already explored the potential of hydrogen through an Asian Development Bank Study in 2021 and the establishment of Kathmandu University’s Green Hydrogen Lab.
The green hydrogen and fuel cell plant will also align with the Nepalese government’s Green Hydrogen Policy and its Net Zero pledge.
Although IBN has not disclosed the plant’s capacity or output, reports suggest construction could start in 2027, with operations targeted for around 2030.
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