Kathmandu: A Memorandum of Understanding (MoU) was signed on Thursday between the Investment Board Nepal (IBN) and South Korean company G-Philos Co Ltd for the preparation of a Detailed Feasibility Study Report (DFSR) regarding the establishment of a green hydrogen plant and fuel cell in Nepal.
On behalf of IBN, Chief Executive Officer Sushil Bhatta signed the MoU, while on behalf of the proponent company G-Philos Co. Ltd. Chief Executive Officer Ga Bu Park signed the agreement.
As per the MoU, after obtaining the survey license from IBN, G-Philos Co Ltd will prepare the DFSR and submit it to the IBN office within about 10 months.
Speaking at the signing ceremony, Park Tae Young, Ambassador of South Korea to Nepal, highlighted Nepal’s abundant potential in renewable clean energy and expressed his belief that such projects would serve as a milestone in achieving Nepal’s Sustainable Development Goals, while also adding a new dimension to Nepal–South Korea bilateral relations.
The event was also attended by Dr Ram Prasad Dhital, Chairperson of the Electricity Regulatory Commission; Jibachh 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, Executive Director of Nepal Electricity Authority; and Dr Biraj Singh Thapa, a researcher at Kathmandu University active in the study and research of green hydrogen.
They shared their views on the existing policy and legal frameworks related to Green Hydrogen in Nepal, its multidimensional benefits, and its future applications.
Delivering the welcome address, Under-Secretary Babu Raj Adhikari of IBN’s office opened the event. Concluding the program, IBN’s CEO Bhatta remarked that such projects would significantly involve the academic sector, and play a crucial role in bringing capital and technology exchange to a country like Nepal. He expressed confidence that the proponent company would submit a quality report within the stipulated time and affirmed the commitment to establish a green hydrogen plant in Nepal as soon as possible after the study is completed.
Earlier, on 27 April 2025), G-Philos Co Ltd had submitted a proposal to IBN to establish, develop, and operate a green hydrogen and fuel cell plant under a public-private partnership (PPP) model in Nepal. The 63rd meeting of IBN had decided to enter into an MoU with the company and grant the survey license.
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