Prozeal Green Energy and Golyan Power Join Forces for Solar Projects in Nepal

Ahmedabad's Prozeal Green Energy and Nepal's Golyan Power have entered a joint venture to develop solar energy projects in Nepal. The partnership includes the creation of Prozeal Green Energy Nepal, which plans to deliver over 500 MW of solar power in the next 18 months. Prozeal will handle EPC duties, while Golyan will manage business development and financing.

Ahmedabad-based Prozeal Green Energy and Nepalese firm Golyan Power have signed a joint venture agreement to set up solar power projects in Nepal.

The signing, held at Golyan Group's headquarters in Kathmandu, signifies a milestone in their commitment to renewable energy solutions, according to a statement.

The agreement was inked by Shobit Rai, Director of Prozeal Green Energy, and Akshay Golyan, Director of Golyan Power.

The venture aims to establish over 500 MW of solar projects across various locations in Nepal within the next 18 months, with Prozeal holding a 60% stake in the JV and Golyan taking the remaining 40%.

Director Rai explained that the alliance represents a powerful convergence of expertise from Nepal and India to lead global decarbonisation efforts.

Golyan added that Nepal's renewable energy sector is booming and this partnership will unlock new opportunities. The JV will focus on both solar rooftop and ground-mounted photovoltaic plants, selling energy to the Nepal Electricity Authority and commercial/industrial customers.

Prozeal Green Energy will act as the EPC development company, while Golyan Group will oversee business development, land acquisition, and financing.

(With inputs from agencies.)