Ahmedabad-based Prozeal Green Energy Limited, a key player in India’s green energy sector, has partnered with Nepal’s Golyan Power Limited to establish solar power projects across Nepal. The joint venture agreement, signed during a ceremony at Golyan Group Headquarters in Kathmandu, marks a major step forward in both companies’ efforts to promote renewable energy in the region.
The agreement was signed by Mr. Shobit Rai, Director of Prozeal Green Energy, and Mr. Akshay Golyan, Director of Golyan Power, in the presence of executives from both organizations. The partnership aims to accelerate the transition to clean energy in Nepal, with plans to develop over 500 MW of solar power projects in various locations over the next 18 months. Prozeal Green Energy will hold a 60% stake in the joint venture, while Golyan Group will hold 40%.
Speaking about the partnership, Shobit Rai of Prozeal Green Energy said, “This joint venture symbolizes a strong alliance between India and Nepal in the renewable energy space. Our combined expertise will drive Nepal’s shift towards decarbonization and set new standards for sustainability in the region.”
Akshay Golyan of Golyan Power added, “Nepal’s renewable energy sector is expanding rapidly, and this collaboration opens new opportunities for both companies. We share a common vision for a sustainable future, and the potential for growth in this sector is tremendous.”
The joint venture, named Prozeal Green Energy Nepal, will focus on building solar rooftop and ground-mounted photovoltaic (PV) plants. The energy produced will be supplied to the Nepal Electricity Authority (NEA) as well as commercial and industrial consumers.
Under the agreement, Prozeal Green Energy will lead the EPC (Engineering, Procurement, and Construction) efforts, leveraging its experience in the renewable energy industry. Golyan Group will handle business development, land acquisition, and financing aspects of the projects.
