Delhi-based renewable project consultant GreenZo Energy has forayed into the green hydrogen market with plans to produce solutions from electrolysis to storage.
Initially, the company will manufacture electrolyzers but plans to offer installation and turnkey services to generate green hydrogen from its products. “We eventually aim to solve all bottlenecks that the world faces in the use of green hydrogen – be it in terms of production or storage, GreenZo Founder and Chairman Sandeep Agarwal told pv magazine.
The company aims for an overall 1 GW electrolyzer capacity. To this end, it will initially invest up to INR 400 crore ($51.5) by the end of 2025 to set up a 250 MW electrolyzer factory. After expanding the production capacity of electrolyzers from 250 MW to 1 GW, it will move to the production of high-pressure tanks and cryogenic vessels necessary for hydrogen storage, said Agarwal.
GreenZo electrolyzer factory is expected to start production in the fourth quarter (Oct.-Dec.) of 2024. The company officials are in discussion with the Indian government to finalize the location and are also exploring the options, incentives, and benefits provided by the government for green hydrogen.
GreenZo plans to be the incumbent player within green hydrogen space for years to come, said Agarwal. And the company’s shift to green hydrogen is based on the demand it observed from its existing renewable energy clients and the core technological competencies it accumulated along with major domestic and international players in green hydrogen, he added.
“GreenZo‘s sister concern Kushal Projects executes renewable projects in Asian countries. So, projects executed by Kushal Projects have all been designed by GreenZo.”
GreenZo has not tied up with any technology partner from abroad for its proposed electrolyzer production. The company is developing an indigenous technology with an in-house team of ex National Thermal Power Corporation (NTPC) officers and young brains of the Indian Institute of Technology (IIT), Agarwal said. It is, however, open to joint ventures in the future as the need arises.
GreenZo has set aside INR 7 crore (around $1 million) for hydrogen electrolyzer R&D in 2022-23. The R&D team, Agarwal said, will focus on polymer electrolyte membrane (PEM) materials, anode and cathode reactions, electrolysis, durability parameters, and integration of artificial intelligence (AI) and automation.
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