GreenZo, API Power to develop 50 MW of green hydrogen plants in Nepal
- Indian renewables consultancy and project programmer GreenZo Energy Pvt Ltd stated today it has actually signed a pact with API Power Company Pvt Ltd to develop green hydrogen projects amounting to 50 MW across Nepal by 2025.
Under the terms of the newly-signed memorandum of understanding (MoU), the Nepal-based eco-friendly power manufacturer will spend INR 10 billion (USD 125.2 m/EUR 124.5 m) in the building of centers that can produce 4,000 tonnes of green hydrogen per year. The partnership with GreenZo will begin with a 1-MW pilot at the 8.5-MW Naugarh Gad hydroelectric plant. Similar projects are intended at solar parks as well.
"Our country is rich in hydropower with 20,000 MW of projects under growth and also the seasonal nature of resources from our substantial network of 6,000 rivers demands hydrogen storage space," commented Sanjeev Neupane, taking care of director of API Power.
As formerly announced, GreenZo intends to invest in between INR 3 billion as well as INR 4 billion in the construction of a 250-MW electrolyser factory in India. In the latest news release, the company claims it has actually started scaling up its procedures for the electrolyser manufacturing center.
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