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

According to a press release by the Investment Board on Thursday, the study will be completed and submitted to the board’s office within the next ten months.

The MoU was signed by Investment Board CEO Sushil Gyawali and G-Philos CEO Ga Woo Park.

G-Philos had submitted a proposal on April 28 to develop, operate, and establish the plant in Nepal under a public-private partnership model.

The Investment Board approved the proposal in its 63rd board meeting and granted permission to conduct the survey.

Following the signing, South Korean Ambassador to Nepal Park Tae-Young highlighted Nepal’s abundant potential in renewable clean energy, noting that such projects could become a cornerstone for the country’s sustainable development goals.

The program also featured insights from key officials, including Ram Prasad Dhital (Chair, Electricity Regulatory Commission), Jivach Mandal (Director General, Department of Electricity Development), Chiranjeevi Chataut (Joint Secretary, Ministry of Energy, Water Resources and Irrigation), Hitendra Dev Shakya (Executive Director, Nepal Electricity Authority), and researcher Biraj Singh Thapa of Kathmandu University, who discussed current policies, legal frameworks, and the multi-dimensional benefits of green hydrogen.

CEO Gyawali emphasized the critical role of the academic sector in such projects and the importance of capital and technology exchange for a country like Nepal.

He expressed confidence that the green hydrogen plant would be established in Nepal as soon as the study is completed.