BLOGS

Hygenco to invest $2.5 bn over 3 years to set up Green Hydrogen projects in India

New Delhi:  Green Energies is planning to invest $2.5 billion over three years to set up Green Hydrogen  projects across multiple states in India, as part of a larger plan to capitalise on the business opportunities in the fast developing local market for the clean fuel. 

The company is currently producing Green Hydrogen at two plants, including an R&D-cum-demonstration unit of around 140 KW in Ujjain, MP, in 2022, and a second plant of around 3 MW RE capacity is currently in the final commissioning stage in Hisar, Haryana. It has two more plants, with 15 MW capacity in Phase-I, under construction in Maharashtra. 

The company is now working on projects of 50-200 MW scale, actively developing projects in over seven states where customers belong to refineries, steel, fertilizers and other industries with hard-to-abate emissions in manufacturing processes.

We have projects lined up where we have secured land and active ordering and development or construction work is underway. For the next three years, we are expecting investment in total capex of around $2.5 billion in India,

Hygenco was one of the winners in the recent PLI scheme for production of Green Hydrogen under the SIGHT programme floated by the government where it had won PLI for capacity of 75 KTPA which will require around 2 GW of RE capacity to be installed in 3 years. Gupta said, from an estimated capex point of view, overall the company is looking at a pipeline of projects over $10 billion in India.