Green Hydrogen

Sungrow will supply its 1+X modular inverter solution to the 2.2 GW AC solar plant of the NEOM green hydrogen project. The PV plant is being executed by Larsen & Toubro on an EPC basis.

Adani New Industries Ltd recorded a revenue of INR 1,898 crore ($229 million) in the first quarter of FY 2023-24, 209% up year-on-year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 7.5 times to INR 355 crore as export volumes surged 19 times.

The State-owned oil and gas major is assessing green hydrogen production based on solar electrolysis, biomass gasification, and bio-methanation.

JSW Energy will set up a 3,800 tonnes per annum (tpa) green hydrogen plant for supply to JSW Steel. Green hydrogen production at the plant will be powered by 25 MW of renewable energy.

The company’s manufacturing plant in Haryana will produce proton exchange membrane (PEM) electrolyzers based on the technology from its Spanish parent firm H2B2 Electrolysis. The plant will start production by October.

Power Finance Corp. (PFC) and Rural Electrification Corp. (REC) committed debt funding of $3.9 billion each.

India can gain an edge in green hydrogen by focusing more on making its production accessible and affordable. Using the distributed business model and building an enabling regulatory framework will stimulate wider acceptance.

Avaada has signed an agreement with REC for INR 20,000 crore (around $2.44 billion) investment to fund its multiple projects over the next five years.

JSW Energy targets to become a 20 GW power generation company along with 40 GWh/5 GW of energy storage by 2030. It is also investing in solar manufacturing and green hydrogen production.

European Investment Bank (EIB) Vice-President Kris Peeters will confirm a EUR 1 billion loan for India’s National Green Hydrogen Mission on his four-day business visit to India this week.