Plug Power's Ambitious Plans: Establishing Multi-Gigawatt Electrolyser Plants in India by 2030
Key Ideas
- Plug Power aims to establish multi-gigawatt electrolyser manufacturing plants in India by 2030, depending on demand and cost factors influenced by the government.
- Strategic collaboration with local partners in India is set to lower costs and accelerate the availability of green hydrogen, fostering industry growth.
- The company already operates a 1.2-GW electrolyser factory in the US and has the world’s first and largest liquid green hydrogen plant in Georgia, showcasing its commitment to green hydrogen globally.
- Plug Power emphasizes the need for visible demand mandates and favorable policies from the Indian government to bring green hydrogen prices in line with grey hydrogen, similar to incentives in the US.
Plug Power, a US-based manufacturer of green hydrogen fuel cells, is planning to establish multi-gigawatt electrolyser manufacturing plants in India by the end of 2030. The timeline for this ambitious project will be influenced by demand and cost factors, which are closely tied to the support and policies of the Indian government. Sanjay Shrestha, President of Plug Power, highlighted the strategic collaboration with a local partner in India to leverage market expertise and broaden the reach within the country. This partnership aims to drive down costs and expedite the availability of green hydrogen at a competitive rate. Plug Power also underlined its readiness to explore further strategic partnerships to boost industry growth if projects in India expand significantly. The company already operates a substantial electrolyser factory in the US and owns the world's first and largest liquid green hydrogen plant in Georgia. Additionally, Plug Power is finalizing a 100-MW PEM electrolyser project in Europe, showcasing its dedication to advancing the green hydrogen sector globally. Shrestha emphasized the necessity of visible demand mandates and supportive policies from the Indian government to align green hydrogen prices with grey hydrogen, similar to the incentives provided in the US, such as the $3 per kg subsidy. These developments highlight Plug Power's positive outlook on green hydrogen's future and its commitment to expanding electrolyser manufacturing capacities to drive the industry forward.