Achelous Energy signs MoU with Nepal Energy Foundation
Achelous Energy has announced the signing of a Memorandum of Understanding (MoU) with Nepal Energy Foundation (NEF) to develop the company’s innovative FITS technology in Nepal.
The companies have worked to accelerate the delivery of FITS hydrokinetic river technology in Nepal since August 2021, with the aim of providing clean, affordable energy access to one or more off-grid communities in the country. River hydrology survey work is already being undertaken at a number of identified pilot site locations and community engagement activities are underway with key stakeholders for permits to develop a pilot project.
Achelous Energy’s Co-Founder and Director James Diddams said:
“We are delighted to forge this partnership with NEF to start providing clean, affordable energy to communities who are in real need. The FITS is a market-ready, hydrokinetic power plant that can access shallow draft river locations and be implemented in challenging terrain conditions, making the technology ideal for Nepal’s environment. It can make a genuine impact on country’s address current energy access issues.”