May 21, 2024, Tuesday
Nepal 1:37:26 pm

Api Power plans to invest Rs 10 billion in green hydrogen projects

The Nepal Weekly
July 26, 2022

Api Power Company Ltd. actively engaged in renewable energy development in Nepal and GreenZo Energy, an Indian company has signed a memorandum of understanding (MoU) on recently to develop 50 MW green hydrogen plants in Nepal with aim to accomplish in 2025. The two companies signed the agreement in Kathmandu.

On the occasion of the signing ceremony, Sanjeev Neupane, managing director of API Power, said that Nepal is rich in hydropower. It has resource of 6,000 rivers for hydropower to generate. Presently it isdeveloping projects to generate 20,000 MW of electricity.

The MoUmentions API Power will invest Rs 10 billion in green hydrogen projects of 50 MW that can generate 4,000 tons of hydrogen fuel annually. Bardaghat, Chanauta, Kawasoti, Dhalkebar, Parwanipur, Simara and Chandranigahapur are among the proposed sites of the company’s hydro and solar projects to be used for the hydrogen initiative. The two companies have agreed to start piloting of the hydro project with one megawatt power at Naugarh Gad Hydroelectric Project (8.5 MW).

For GreenZo Energy, the MoU with API strengthens its mission to become a pioneer in electrolyser manufacturing and green hydrogen production. The company has begun scaling up its operation for its planned 250 MW electrolyser manufacturing facility in India.

Api Power Co. Ltd. was established in 2003 as a private company. It has been grown as one of the leading renewable energy developing companies in Nepal with power generation and supply to national grid as its main business.