Top Beneficiaries of SECI's Electrolyser Auction in India
Key Ideas
- Adani Enterprises Ltd secures a contract to build an electrolyzer manufacturing capacity for green hydrogen under the PLI scheme, showing a significant jump in YoY profit and revenue.
- Gensol Engineering wins bids for solar projects and is expanding into new segments like BESS and EV leasing, leading to a 105% increase in total revenue in the first quarter of FY25.
- India's green hydrogen electrolyser market is expected to witness substantial growth with SECI planning to auction up to 20 GW of capacity in the ongoing financial year.
- Companies like Adani Enterprises and Gensol Engineering are positioning themselves as key players in India's green hydrogen transition, contributing to the country's National Green Hydrogen Mission goals.
Green hydrogen is gaining momentum as a clean energy solution globally, with India focusing on achieving significant green hydrogen production targets by 2030. The Solar Energy Corporation of India (SECI) has issued tenders for electrolyser production capacity, aiming to boost green hydrogen initiatives. Adani Enterprises and Gensol Engineering are among the top beneficiaries of SECI's electrolyser auction, securing contracts for manufacturing capacities. Adani Enterprises has seen a substantial increase in profit and revenue, while Gensol Engineering is expanding into new business segments, contributing to the growth of India's renewable energy sector. The companies' involvement in green hydrogen projects aligns with India's ambitious green hydrogen goals and signifies a positive shift towards sustainable energy practices.
Topics
Electrolyzer
Renewable Energy
Green Energy
Manufacturing
Solar Power
Profitability
Economic Growth
Electric Mobility
EPC Services
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