Gensol-Matrix Secures Rs 450 Crore Hydrogen Electrolyser Project in India
Key Ideas
- Gensol-Matrix consortium won a 237 MW annual capacity bid for building an electrolyser manufacturing plant under the PLI scheme, marking a significant milestone in India's renewable energy landscape.
- The project is part of the National Green Hydrogen Mission and aims to help India achieve its goal of producing 5 million metric tons of green hydrogen annually by 2030.
- In addition to the hydrogen project, Gensol Engineering Ltd secured a separate bid for 116 MW of solar projects in Gujarat, further contributing to the renewable energy sector in the country.
- The projects are expected to have a substantial impact on the economy, with a cumulative incentive of Rs. 450 Crore under the PLI scheme and an approximate EPC revenue of Rs. 600 crore for the solar projects.
Gensol Engineering Ltd and Matrix Gas & Renewables Ltd have successfully secured a significant project in India's renewable energy sector. The consortium won a bid for a 237 MW annual capacity under the Production Linked Incentive (PLI) scheme to establish an electrolyser manufacturing plant. This milestone project, part of the National Green Hydrogen Mission, is crucial for India's target of producing 5 million metric tons of green hydrogen annually by 2030. The electrolyser plays a vital role in green hydrogen production. Additionally, Gensol Engineering Ltd also secured a bid for 116 MW of solar projects in Gujarat. These projects, distributed across 27 locations in collaboration with Paschim Gujarat Vij Co. Ltd., are set to significantly contribute to the state's renewable energy capacity. With a cumulative incentive of Rs. 450 Crore under the PLI scheme and an estimated EPC revenue of Rs. 600 crore, these projects are not only environmentally beneficial but also economically significant for the country's sustainable development.
Topics
Projects
Green Hydrogen
Renewable Energy
Solar Projects
Production Linked Incentive
Renewable Energy Landscape
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