GreenZo Energy, one of the leading companies in renewable energy (RE) in India, has signed a Memorandum of Understanding (MoU) with API Power, a Nepal-based renewable energy company, to develop 50-MW green hydrogen plants, within a span of three years, in Nepal. The company listed on Nepal’s stock exchange will be investing INR 1,000 Cr for the same.
Describing the energy landscape in Nepal, Sanjeev Neupane, Managing Director, API Power Company Ltd, said, “Our country is rich in hydropower with 20,000 MW of projects under development and the seasonal nature of resources from our vast network of 6000 rivers necessitates hydrogen storage.”
The areas of development under the MoU include API Power investing INR 1,000 Cr in green hydrogen projects of 50MW that can generate 4000-MT hydrogen annually. It has also proposed sites of their existing hydro and solar projects to be used for the hydrogen initiative, which include Bardeghat, Chanauta, Kawasoti, Dhalkebar, Parwanipur, Simara and Chandranigapur. The pilot hydro project of 1-MW, as agreed by both the companies, will take off at Naugarh Gad Hydroelectric Project (8.5 MW).
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For GreenZo Energy, the MoU with API strengthens its objective to become a leader in electrolyser manufacturing and green hydrogen production. It has begun scaling up its operations for its planned 250 MW electrolyzer manufacturing facility in India and has added multiple key hires to its R&D team, composed of experienced members of ex-NTPC and ex-IIT Bombay, in New Delhi, said the company.
