ProClime Advances Nepal’s Renewable Energy Ecosystem with First Successful Hydro I-REC Trade

ProClime is proud to announce the successful closure of Nepal’s first Hydro I-REC trade, marking an important milestone for the country’s renewable energy market. This landmark transaction follows the registration of the Taksar-Pikhuwa Hydropower Project, facilitated by ProClime in 2025.

We also acknowledge the collective efforts of stakeholders, including the Independent Power Producers’ Association, Nepal (IPPAN), in advancing market readiness and confidence in Nepal’s renewable energy sector.

End-To-End Enablement

For this trade, ProClime managed the process end-to-end, including project registration, validation, issuance, and trade execution under the I-REC Standard. In January 2025, ProClime and IPPAN entered into an MoA to enable the participation of over 2,000 MW of Nepal’s hydropower capacity in the I-REC market.

This trade marks the successful completion of ProClime’s first transaction with the Independent Power Producers’ Association, Nepal (IPPAN) to bring Nepal’s hydropower capacity into the I-REC market at scale.

“We are proud to have been the first to register Nepal’s Hydro I-RECs and the first to trade them. This reflects the robustness of ProClime’s ecosystem in enabling credible, net-zero transitions at the country level,” said Mr Kavin Kumar Kandasamy, Founder & CEO, ProClime.

Supporting Nepal’s Transition Toward Net Zero

Nepal is entering a pivotal phase in its transition toward carbon neutrality and net-zero ambitions. With the recently published Carbon Trading Regulation, 2025, the foundation has been laid for the country’s structured, transparent participation in global climate markets.

Against this backdrop, the successful closure of this Hydro I-REC trade signals that Nepal’s renewable energy market is now operational, credible, and open to international demand.

ProClime is proud to have played a pioneering role by:

• Structuring and enabling Nepal’s first Hydro I-REC trade

• Demonstrating market readiness under international standards

• Translating policy intent into real, tradable climate action

What This Means for Buyers and the Market

The successful closure of this trade establishes a clear precedent for organizations seeking high-integrity renewable energy instruments from South Asia. It confirms that:

• Nepal-based I-RECs are now bankable and tradable

• Hydro power can credibly support Scope 2 emissions claims

• Corporates can align purchases with RE100 commitments and SBTi-aligned strategies

Most importantly, it reinforces confidence that Nepal’s clean energy assets can meaningfully participate in global sustainability value chains.

A Step Forward for Clean Energy Finance

As Nepal moves toward a low-carbon economy, verified instruments like I-RECs will play a critical role in mobilizing climate finance into renewable infrastructure. It also incentivizes clean power generation while supporting national and corporate net-zero pathways.

With this trade, ProClime continues to lead from the front, turning policy, projects, and standards into real climate outcomes for Nepal and the South Asian region.