Hygenco Green Energies Leading India's Green Ammonia Revolution
Key Ideas
- Hygenco Green Energies announces bids for over 1.1 GW renewable energy for green ammonia production, showcasing a major commitment to sustainability.
- The company plans to source 625 MW from solar PV projects and 500 MW from wind energy, offering favorable terms to developers to ensure wide participation.
- Amit Bansal, CEO of Hygenco, highlights the company's dedication to India's energy security and climate challenges through green hydrogen and green ammonia production.
- The procurement plays a significant role in India's goal to become a green hydrogen hub by 2030, contributing to the global energy transition and a $17.9 billion green ammonia market by 2030.
Hygenco Green Energies Pvt Ltd has made a significant announcement in India's renewable energy sector by initiating bids for over 1.1 GW of renewable energy to power its forthcoming green ammonia project. This move represents the largest renewable energy tender for a green ammonia endeavor in the country, solidifying Hygenco's commitment to sustainability. The company's plan involves sourcing 625 MW from solar PV projects and 500 MW from wind energy, with a structured tender designed to reduce risks and ensure transparency, encouraging broad participation from the renewable energy industry. Amit Bansal, the Co-Founder and CEO of Hygenco, emphasized the company's progress in advancing India's energy security and addressing climate challenges through green hydrogen initiatives. The production of green ammonia, fueled by renewable energy, is recognized as pivotal in the global energy shift, with market projections indicating significant growth to $17.9 billion by 2030. This large-scale energy procurement by Hygenco is poised to play a crucial role in India's transition to a low-carbon economy and in supporting the national green hydrogen mission, aiming to establish India as a green hydrogen hub by 2030.