Nepal Signs MoU With South Korea’s G-Philos for Green Hydrogen Plant Feasibility Study

The Investment Board Nepal (IBN) has signed a memorandum of understanding (MoU) with South Korea’s G-Philos to prepare a detailed feasibility study for establishing a green hydrogen and fuel cell plant in Nepal.

The agreement was signed in Kathmandu on Thursday by IBN CEO Sushil Gyewali and G-Philos CEO Gawoo Park. Under the MoU, G-Philos will conduct the study and submit a detailed report within 10 months after receiving survey permission from the board.

South Korean Ambassador to Nepal Park Tae-Young, present at the signing, said Nepal has vast potential for renewable energy. He added that the project would support Nepal’s sustainable development goals and strengthen bilateral ties between the two countries.

Speaking at the event, IBN CEO Gyewali said the project would bring technical expertise and investment into Nepal. He expressed confidence that the feasibility report would be of high quality and reaffirmed the government’s commitment to establishing a green hydrogen plant as soon as possible following the study.

G-Philos had submitted its proposal to establish and operate the plant under a public-private partnership model on April 28. The IBN’s 63rd board meeting, chaired by the Prime Minister, approved the partnership and granted survey permission.

Officials described the initiative as a key step for Nepal to diversify its energy mix, reduce dependence on traditional energy sources, and attract international investment and technology transfer. They also highlighted hydrogen energy’s role in ensuring long-term energy security and sustainability for the country.