Prozeal to develop 500 MW solar energy project

 Kathmandu, Jan. 24

The joint venture Prozeal Green Energy Nepal, formed between India’s largest solar EPC company Prozeal Green Energy and Nepal’s Golyan Power Limited, is officially launched in Nepal.

The new clean energy business venture was announced on Wednesday at the Prozeal Green Energy Summit held in Kathmandu.

The company aims to accelerate the adoption of solar energy in Nepal and contribute to the country's renewable energy capacity. The venture will focus on developing both rooftop solar systems and ground-mounted photovoltaic (PV) solar plants.

Under the joint venture agreement, Prozeal Green Energy will lead as an Engineering, Procurement, and Construction (EPC) development company, leveraging its extensive expertise in renewable energy. Golyan Power will focus on business development, land acquisition, and financial management, Golyan Group informed in a statement on Friday.

The joint venture has set an ambitious target to establish over 500 MW of solar energy projects across Nepal within the next 24 months. "This move is expected to position Nepal as a leader in clean energy and marks a transformative step in the nation’s renewable energy sector," said Praveen Aryal, Director of the newly announced company.
"This partnership reflects a decisive step to meet Nepal’s growing energy demands and facilitate economic growth. Our shared goal is to deliver world-class energy solutions that address today’s challenges and pave the way for a prosperous and sustainable future," he said.

Speaking at the summit, Shobhit Baijnath Rai, Chairman of Prozeal Green Energy, said that the partnership with Golyan Group will develop over 500 MW of solar energy projects.

Prozeal has established a global presence with over 2 GW of installed capacity and a client base of more than 300 across commercial, industrial, institutional and governmental sectors.

Speaking on the occasion, Dr. Ram Prasad Dhital, Chairman of the Electricity Regulation Commission, emphasised the government’s support for renewable energy projects. He said,
"The government is always ready to assist the private sector in advancing renewable energy initiatives. We trust you will continue to invest more in this sector."

Ganesh Karki, President of the Independent Power Producers Association of Nepal (IPPAN), expressed enthusiasm about the venture’s 500 MW target, and said that if the government provided the necessary support, the private sector could produce 1,000 MW of energy next year.

"Achieving this will reduce or eliminate the need to import electricity," he said while stressing the need for a clear vision to advance solar energy and incorporate solar initiatives in the upcoming Electricity Act.

Dr. Sandeep Shah, President of the Solar Power Association of Nepal (SOPAN), highlighted the potential for solar energy production from regions like Mustang, provided transmission line access is facilitated. He urged the government to address policy barriers and streamline solutions to overcome existing challenges in solar energy production.

 Published in The Rising Nepal daily on 25 January 2025.