09 Sep 2024
New Delhi: Prozeal Green Energy, based in Ahmedabad, and Nepalese firm Golyan Power have formed a joint venture, Prozeal Green Energy Nepal, to develop solar power projects in Nepal. The agreement, signed at Golyan Group’s Kathmandu headquarters, aims to establish over 500 MW of solar capacity across multiple locations in the next 18 months.
Prozeal Green Energy will hold a 60% stake, with Golyan Power owning 40%. The joint venture will focus on both rooftop and ground-mounted photovoltaic (PV) solar plants. The energy generated will be sold to the Nepal Electricity Authority (NEA) and various commercial and industrial consumers.
Shobit Rai of Prozeal Green Energy emphasized the partnership’s role in advancing global decarbonization efforts, while Akshay Golyan of Golyan Power highlighted the growth potential and shared vision for renewable energy in Nepal.
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