GreenZo Energy Signs MoU with API Power to Set up 50 MW Green Hydrogen Plants in Nepal by 2025

New Delhi-based renewable energy (RE) firm GreenZo Energy has signed a Memorandum of Understanding (MoU) with Nepal Stock Exchange-listed API Power to develop 50 MW capacity of green hydrogen plants in Nepal.
 
These projects are scheduled to be installed within a span of 3 years by 2025 and can generate 4,000-MT of hydrogen annually.
 
Nepal is rich in hydropower due to its 6,000-odd rivers that originate from the Himalayan mountains.

Describing the energy landscape in Nepal, Sanjeev Neupane, Managing Director of 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.”

Under the MoU, Nepal-based renewable energy company, API Power, will be investing Rs 1,000 crore in green hydrogen projects of 50 MW capacity. The company has also proposed to build hydrogen projects at its existing sites of hydro and solar projects including Bardeghat, Chanauta, Kawasoti, Dhalkebar, Parwanipur, Simara and Chandranigapur.
 
However, the pilot hydro project of 1 MW capacity would be set up at 8.5 MW Naugarh Gad Hydroelectric Project.

Commenting on the partnership with API Power, Shreya Agarwal, Lead Strategy and Operations of GreenZo Energy, said “Greenzo’s international experience in energy research, consulting and manufacturing produces synergy perfectly with API Power’s renewable energy assets. We are thus excited and looking forward to work on a common dream to decarbonise the planet.” 

Earlier in May this year, GreenZo Energy said that it will set up a full-fledged made-in-India 250 MW electrolyser factory with an investment of Rs 3-4 billion by the end of 2025.
 
Besides, Sandeep Agarwal, Founder and Chairman of GreenZo Energy has also announced an investment of more than Rs 70 million on the R&D (Research & Development) department for the 250 MW PEM technology production of the green hydrogen electrolyzer in 2022-23.
 
The company said that it has a highly credible R&D team, comprising experienced members of ex-NTPC and ex-IIT Bombay, in New Delhi. They are committed to discovering the safest and most effective solutions for using green hydrogen energy for the electrolysis process.