Sembcorp Industries to Develop Green Hydrogen Plant and Industrial Park in Odisha
Key Ideas
- Sembcorp Industries, with support from Temasek, to construct a 720,000 metric tonne green hydrogen plant in Odisha.
- The project is set to generate over 2,000 employment opportunities in the region.
- In line with India's renewable energy push, the development aims to contribute towards clean energy targets and emissions reduction.
- The agreement showcases a significant step towards sustainable energy development and industrial growth in Odisha.
Sembcorp Industries, in collaboration with Temasek, has signed a deal with the state of Odisha in India to establish a green hydrogen plant and an industrial park. The plant, with a massive 720,000 metric tonne capacity, will be built by Sembcorp Green Hydrogen India, a subsidiary of the Singapore-based company. This initiative is anticipated to create more than 2,000 job opportunities in the region. Additionally, Sembcorp Development, a unit of the company, will explore the potential for an industrial park in Odisha as part of the agreement.
The project aligns with India's increased focus on renewable energy investments to meet its clean energy targets for 2030, following a previous shortfall in the 2022 goal. India, the third-largest emitter of greenhouse gases globally, aspires to achieve net-zero emissions by 2070 and aims for 500 gigawatts of renewable energy by 2030.
Notably, major power producers in India are also channeling significant investments into renewable energy to support the government's endeavors in expanding clean energy infrastructure and reducing emissions. This partnership signifies a significant leap towards sustainable energy development and industrial progress in Odisha, reflecting a positive outlook towards the adoption of green hydrogen and clean technologies in the region.