Ahmedabad: Prozeal Green Energy Limited, based in Ahmedabad and known for its green energy initiatives in India, has partnered with Golyan Power Limited, a prominent corporate entity in Nepal. Together, they have entered into a joint venture agreement to establish solar power projects in Nepal, a step taken during an official event at the Golyan Group Headquarters in Kathmandu. This collaboration signifies a major achievement in the shared dedication of both companies toward promoting renewable energy solutions.
The JV agreement was signed on Tuesday by Mr. Shobit Rai, Director of Prozeal Green Energy, and Mr. Akshay Golyan, Director of Golyan Power, in the presence of key executives from both organizations. This partnership highlights a common goal to actively contribute to a cleaner and greener future for Nepal. The joint venture, Prozeal Green Energy Nepal, is set to develop more than 500 MW of solar energy projects in various locations in Nepal within the next 18 months. Prozeal Green Energy will have a 60% stake in the partnership, while the Golyan Group will hold a 40% stake.
Commenting on the partnership, Mr. Shobit Rai, Director of Prozeal Green Energy said,This joint venture between Prozeal Green Energy and Golyan Group represents a powerful alliance between Nepal and India, uniting our expertise to lead the global decarbonization movement. Together, we’re setting new benchmarks for clean energy and sustainability in Nepal.
Mr. Akshay Golyan, Director of Golyan Power, said,Nepal is growing rapidly in the renewable energy sector and I am confident that this partnership will open up new avenues for both entities. We have come together through our shared vision and the massive possibilities ahead.
The joint venture aims to create solar rooftop and ground-mounted photovoltaic (PV) solar plants. The generated energy from these initiatives will be supplied to the Nepal Electricity Authority (NEA) as well as different commercial and industrial clients. According to the joint venture agreement, Prozeal Green Energy will take the lead as the EPC (Engineering, Procurement, and Construction) development firm, utilizing its vast experience in the renewable energy industry. Meanwhile, Golyan Group will concentrate on business development, land acquisition, and financing.
