Prozeal, Golyan Power Sign JV Pact For Solar Projects In Nepal

Prozeal, Golyan Power Sign JV Pact For Solar Projects In Nepal

Ahmedabad-based renewable energy company Prozeal Green Energy Limited, and Golyan Power Limited, a corporate group in Nepal, have signed a joint venture agreement for setting up solar power projects in the Himalayan nation.

The JV aims to establish over 500 MW of rooftop and ground-mounted PV solar plants in the next 18 months across multiple locations in Nepal. Prozeal Green Energy will hold a 60 per cent stake in the JV and Golyan Group will hold 40 per cent stake.

The joint venture will develop both solar rooftop and ground-mounted photovoltaic (PV) solar plants. The energy produced from these projects will be sold to the Nepal Electricity Authority (NEA) and various commercial and industrial consumers.

As per the joint venture agreement, Prozeal Green Energy will lead as the EPC (Engineering, Procurement, and Construction) development company, while Golyan Group will focus on business development, land acquisition and financing.

The agreement was signed during a formal ceremony at Golyan Group Headquarters in Kathmandu, with both companies committed to advancing renewable energy solutions.

The JV agreement was signed by Shobit Rai, Director of Prozeal Green Energy, and Akshay Golyan, Director of Golyan Power in the presence of key executives from both organisations. The partnership underscores a shared vision to contribute meaningfully to a cleaner and greener future for Nepal.

Commenting on the partnership, 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 are setting new benchmarks for clean energy and sustainability in Nepal.”

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.