Api Power, Nepal Investing Rs 10 billion in Green Hydrogen Projects

Kathmandu; Api Power Company Ltd. and the Indian Company GreenZo Energy has signed a memorandum of understanding (MoU) on Sunday to develop 50 MW green hydrogen plants across Nepal by 2025.

API Power is a famous leading company in energy sector based on Nepal to working in renewable energy while GreenZo Energy is one of the leading companies in renewable energy in India with 1,500 MW of solar projects in its portfolio. Two companies inked the agreement amid a program organized at Everest Hotel in Kathmandu.

Speaking at the signing ceremony, Sanjeev Neupane, managing director of API Power, said Nepal is rich in hydropower with 20,000 MW of projects under development and the seasonal nature of resources from the vast network of 6,000 rivers necessitates hydrogen storage.

The MoU includes API Power to invest Rs 10 billion in green hydrogen projects of 50 MW that can generate 4,000 tons of hydrogen 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.

Both the 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.

Shreya Agrawal, lead Strategy and Operations of GreenZo Energy, said GreenZo’s international experience in energy research, consulting and manufacturing will produce synergy with API Power’s renewable energy assets. “We look forward to working on a common dream to decarbonise the planet,” she said.

About GreenZo Energy

GreenZo Energy is a leading energy company aiming to provide integrated solutions  for renewable energy projects in Asian countries. With 1500 MW of solar projects in its portfolio, the company now aims to play a crucial role in the world’s Green Hydrogen Initiatives.

About API Power

Established on 19 June 2003, API Power Company Pvt. Ltd is one of the leading companies in Nepal's power sector with power generation and supply to national grid as its core business. The company, which is located in Kathmandu, is registered with Securities Board of Nepal and the Shares of the Company 'API' are listed in Nepal Stock Exchange and is freely traded in the market.

The company is committed to operational excellence and believes in good governance, corporate citizenship and creating value for stakeholders. It also owns and has developed various hydroelectric and solar projects.