Greenzo Energy India announced this week the signing of a memorandum of understanding (MoU) with the Gujarat government for its electrolyzer factory in Gujarat. Greenzo Energy will invest about INR 500 crore ($60.4 million) in the next few years in setting up an electrolyzer manufacturing factory in Sanand.
Under the MoU, the government of Gujarat has extended all possible help and allotted 10,000 sq.m of land for the factory at Sanad, stated the company.
The factory will have the capacity to manufacture 250 MW of electrolyzers per year. It will start with producing alkaline electrolyzers initially and graduate to anion exchange membrane (AEM) technology in the future.
Sandeep Agarwal, founder and managing director at Greenzo, told pv magazine, “Initially, we have started with alkaline technology as it is available in the market and is economically viable also, but we plan for AEM in future years.”
“The prototype of the first electrolyzer stack of 1 MW is under production in the United Kingdom under the responsibility of our subsidiary company Greenzo Energy London Ltd, which is based in London and registered in the UK,” added Agarwal.
The factory is estimated to create direct employment for around 100 people and indirect employment for thousands.
Greenzo Energy is one of the leading companies in renewable energy consulting with projects cumulating up to 1.5 GW in India. It plans to invest in and develop a portfolio of sustainable and profitable renewable energy projects, including large-scale solar and green hydrogen projects and is seeking partners and investors for the same.
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