ProClime, IPPAN sign MoU

ProClime has signed a Memorandum of Understanding (MoU) with the Independent Power Producers' Association of Nepal (IPPAN) to enable the issuance of up to 2000 MWs of International Renewable Energy Certificates (IRECs) for Nepal's hydropower sector. The agreement was signed at the "Unlocking Green Monetization of Nepal's Hydropower" event, held on January 31, 2025, at Hotel Himalaya in Lalitpur. This deal is expected to unlock significant economic and environmental benefits for Nepal's hydropower sector.

The event featured notable speakers, including Erik Solheim, Climate Champion at the Global Renewables Alliance; Kavin Kumar Kandasamy, CEO of ProClime; Dr. Ram Prasad Dhital, Chairman of the Electricity Regulatory Commission of Nepal; Dr. Maheshwar Dhakal, Joint Secretary and CCMD Chief at the Ministry of Forest and Environment.

Similarly, Prabal Adhikari, Senior Energy Expert at the Ministry of Energy, Water Resources and Irrigation; Ganesh Karki, President of IPPAN; Sushil Pokharel, Vice President of the International Hydropower Association; and Ashok K. Chandhel, Senior Manager at the Global Carbon Council, also expressed their respective views at the occasion.

The event focused on critical topics, including carbon trading in Nepal, climate finance, and mechanisms for power producers to capitalize on the environmental benefits of hydropower operations. The MoU between IPPAN and ProClime signifies a major step towards promoting the development and green monetization of Nepal's hydropower resources.