Hygenco's Milestone: India's Largest RE Power Procurement Tender for Green Ammonia
Key Ideas
- Hygenco Green Energies has floated India's largest tender for procuring over 1.1 GW of renewable energy to support its Green Ammonia project, showcasing a strong commitment to sustainability.
- The tender offers favorable terms to minimize risk for developers, attracting a broad range of participants in the renewable energy sector and contributing to India's low-carbon economy.
- Amit Bansal, Co-Founder and CEO of Hygenco, highlights the company's ambition in scaling up India's Green Hydrogen and Green Ammonia market, aiming to invest USD 2.5 billion over three years for Green Hydrogen projects in India.
- The production of green ammonia using renewable energy is seen as a crucial solution in the global energy transition, with the market projected to grow to USD 17.9 billion by 2030, supporting India's National Green Hydrogen Mission to become a Green Hydrogen Hub by 2030.
Hygenco Green Energies in Gurugram, India, has announced the floating of India's largest tender for procuring Renewable Energy (RE) to support its Green Ammonia project. With bids invited for over 1.1 GW of renewable energy, the company aims to procure 625 MW from solar PV projects and 500 MW through wind power. The tender offers favorable terms to minimize risk for developers and ensure a transparent procurement process. Hygenco's Co-Founder and CEO, Amit Bansal, emphasizes the company's commitment to scaling up India's Green Hydrogen and Green Ammonia market by investing USD 2.5 billion over three years. The production of green ammonia using renewable energy is crucial for global energy transition, with the market expected to reach USD 17.9 billion by 2030. This initiative not only contributes to India's low-carbon economy but also aligns with the National Green Hydrogen Mission's goal to establish India as a Green Hydrogen Hub by 2030.
Topics
Projects
Renewable Energy
Sustainability
Investment
Energy Transition
Climate Goals
Market Growth
Green Ammonia
Procurement Process
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