Former chairperson of the Non-Resident Nepali Association (NRNA) Shesh Ghale has pledged to invest in the production of green hydrogen in Nepal.
Ghale's MIT Group, a co-host of the 'Nepal Green Hydrogen Summit-2022', has made preparations to invest in a green hydrogen project.
MIT Group is investing in the production of green hydrogen, which is being increasingly used across the globe as an alternative energy source, he said, adding that preliminary works are being carried out for the intervention.
The Australia-based entrepreneur claimed that there are policy gaps for investment in green hydrogen production, but they would be gradually resolved.
He further said that they are investing in the new area of green hydro with social responsibility when the snow-capped mountains - sources of livelihood for two billion people - are melting and snow-fed rivers are also facing problems.
Ghale added that his team had developed the idea of flowing investment in advancing alternative energy sources during the COVID-triggered lockdown. "Nepal can be a hub of green hydrogen. Let us join hands to open up this opportunity from today onward," he said.
The availability of energy has gradually increased in Nepal. Officially the total production capacity of the hydropower project has reached 2,300 MW. Nepal can produce green hydrogen from clean water available in the country by utilising electricity, he said, adding they had come up with a plan to produce and export green hydrogen as alternative energy to the global market.
Besides hydrogen, the production of ammonia and urea is also possible, Ghale emphasised. "However study to that end is underway."
At the 26th UN Climate Change Conference of the Parties (COP-26) held last year in Glasgow, Scotland, Nepal expressed its commitment to become a carbon-neutral country by 2045.