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Gensol-Matrix secures 237 MW hydrogen electrolyzer manufacturing bid

2024-08-16

Gensol Engineering, in partnership with Matrix Gas & Renewables, has won a bid for a 237 MW hydrogen electrolyzer manufacturing capacity under the Production Linked Incentive (PLI) program. This award, secured through a competitive tender by the Solar Energy Corporation of India (SECI), is part of a larger 300 MW capacity allocated to the consortium, including a previous 63 MW from the first tranche of the SECI tender. The total incentive for this capacity is Rs 4.5 billion.

The Ministry of New and Renewable Energy has allocated Rs 44.4 billion to promote electrolyzer manufacturing under the National Green Hydrogen Mission (NGHM), aimed at reducing hydrogen production costs. The NGHM, approved by the Union Cabinet in January with an initial budget of Rs 197.44 billion, seeks to foster demand, production, and export of green hydrogen, targeting 5 million metric tons of annual production by 2030.

Electrolyzers are vital for generating green hydrogen and its derivatives. Anmol Jaggi, Managing Director, Gensol Engineering, emphasised that winning this PLI capacity underscores the company?s commitment and technical prowess in the green hydrogen sector, paving the way for further growth and collaboration in renewable energy.

Chirag Kotecha, Whole-time Director at Matrix Gas & Renewables, highlighted that the successful bid reflects the consortium's technological expertise and manufacturing capabilities. He noted that the electrolyzer manufacturing initiative is key to their strategy for large-scale decarbonization through green hydrogen, aligning with their goal of positioning India as a leader in sustainable, low-carbon energy.

The Gensol-Matrix collaboration is poised to capitalise on their combined strengths in green hydrogen and related areas, including green steel and green ammonia. (Mercom)