Haryana-based Hygenco India has signed India’s first long-term green hydrogen off-take agreement with Jindal Stainless Ltd, one of the largest stainless-steel conglomerates globally. The agreement will see Hygenco build, own and operate a multi-megawatt green hydrogen facility for 20 years.
The plant will also purportedly be the first multi-megawatt scale plant with a long-term offtake in Asia to be commissioned in the next 12 months.
The green hydrogen plant will help Jindal Stainless Ltd reduce its carbon emissions by about 2,700 metric tonnes per year.
“This is one of the most significant landmarks for the hydrogen industry in India and globally as it demonstrates the competitiveness and cost-efficiency of Green Hydrogen. We are honored to partner with one of the largest conglomerates globally and help decarbonize steel production, one of the most energy-intensive industries,” said Amit Bansal, CEO of Hygenco.
The state-of-the-art and fully autonomous plant will be controlled by an advanced energy management and control system. The system monitors several parameters, including hydrogen generation, renewable energy generation, states of charge, pressure, and temperature and makes autonomous real-time decisions for achieving high efficiency. The technology enables the company to augment the hydrogen yield and deliver cost-competitive hydrogen to the end clients.
Hygenco aims to invest more than $300 million in green hydrogen projects across India in the next three years.
The large-scale adoption and scale-up of green hydrogen across industries is vital for India, which is significantly dependent on imports for its energy needs. This will significantly push the government’s ambitious National Hydrogen Mission, which envisages the production of five million tonnes of green hydrogen by 2030.
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