India’s GR Promoter Group has formed a joint venture with Spain’s H2B2 Electrolysis Technologies (H2B2) to develop green hydrogen solutions. Each of the two partners will hold a 50% share in their new company, GreenH Electrolysis, which will operate in the Indian market. They are also looking at the possibility to extend their activity to other countries in Asia.
GreenH Electrolysis will manufacture water-based electrolyzers and develop green hydrogen production plants based on off-taker agreements. It will cover the whole value chain of hydrogen, including innovation, design, engineering, manufacturing, integration, financing and operation and maintenance support for modular hydrogen production systems and industrial solutions capabilities.
Through this strategic partnership, H2B2 and GR Promoter Group will integrate their complementary resources and expertise. H2B2 brings to GreenH Electrolysis two decades of experience in the production, processing and development of hydrogen through electrolysis. It has a presence in Spain, the United States, Latin America, Asia, and the United Kingdom, and aims to generate solutions that cover the entire value chain of green hydrogen and enable the vertical integration of this energy source.
GR Promoter Group will lead the project development and O&M of the hydrogen facilities, leveraging its experience and knowledge in the construction and development of key infrastructures across the country.
GR Promoter Group, through its flagship company GR Infraprojects, has a stronghold in integrated EPC and project development with more than two decades of experience in design, construction, and O&M of various road, railway, metro, and power transmission & distribution projects pan India.
GreenH Electrolysis’s first project will be the deployment of an electrolyzer production plant. The plant will start at a production capacity of 100 MW and will escalate into a hydrogen Gigafactory. Work is expected to start at the beginning of 2023.
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