Waaree Energies Ltd’s arm Waaree Clean Energy Solutions has signed a memorandum of understanding (MoU) with Zero Footprint Industries (ZFI) to supply 50 MW of electrolyzers under an Electrolyzer-as-a-Service (EAAS) model for ZFI’s decentralized green hydrogen projects across northern India.
The partners have already signed an EAAS agreement for an initial 2.5 MW alkaline electrolyzer capable of producing around 500 m3 of green hydrogen per hour. Under the agreement, Waaree Clean Energy Solutions will design, engineer, supply, install, commission, own and operate a 2.5 MW alkaline electrolyzer system to be manufactured at its Dungri plant in Gujarat and supply hydrogen and oxygen to ZFI under a long-term contract of 15 years.
The project is expected to produce about 4.1 million Nm3 of green hydrogen and 2 million Nm3 of green oxygen annually. The output will primarily serve ZFI’s customers in the mentha oil, chemicals, steel and pharmaceutical sectors, supporting their transition from grey to green hydrogen.
Delivery of the electrolyzer stack is scheduled for the second quarter of FY 2026-27, with commercial operations expected in the third quarter of FY 2026-27.
Under the broader 50 MW MoU, Waaree will deploy its alkaline electrolyzer stacks across multiple sites, with a cumulative green hydrogen production capacity of 10,000 m3/hour, over the next five years. The renewable-powered hydrogen will support decarbonization of process industries and inland transport applications.
“This EAAS agreement with ZFI represents an excellent opportunity for Waaree to demonstrate not only its advanced alkaline electrolyser technology but also its strong operations & maintenance capabilities/skill sets, which is crucial to meet the rapidly growing demand for green hydrogen through a solution which is quick to implement in a decentralised manner, reliable and energy efficient to operate,” said Anuj Sharma, CEO, Hydrogen business at Waaree.
“ZFI is committed to offer reliable, economical, sustainable green hydrogen solutions to its industrial clientele helping their energy transition initiatives, thereby fostering a Net-Zero eventualities. This collaboration allows us to set up multiple decentralised green hydrogen plants having cumulative capacity of 10,000 m3/hr in a quickest possible manner, thereby contributing abetment of 70,000 MT p.a. of carbon upon its successful commissioning, equivalent to planting 400,000 trees,” said Anurag Agarwal, director at ZFI.
ZFI is engaged in the business of supply of green hydrogen and green oxygen and other industrial gases through fully integrated GH2 projects involving generation, purification, compression, storage, and delivery to end customers. It has commissioned India’s first merchant green hydrogen plant of 250 m3/hr in Uttar Pradesh and is in the process of offering green mobility solutions in Uttar Pradesh through UPNEDA.
“EAAS is a sign of maturing GH2 market not only in India but also across globe. In a sense, it is a unique and win-win offering benefiting both the stakeholders, viz, getting technically and financially responsible partner for green hydrogen developers and steady state electrolyzer pipeline resulting into predictable revenue for electrolyzer manufacturers in the long run” said HydrogenWala aka Shardul Kulkarni, MD & CEO, Deesha Power Solutions, and also a Board Advisor to ZFI, who conceptualised, structured terms of reference, developed risk-sharing principles and facilitated execution of novel EAAS agreement.
In a separate development, Waaree Energies has secured an order for supply of 500 MW solar modules from a domestic solar power developer. The supply of 500 MW PV modules is scheduled in FY 2026-27.
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