Hygenco's Major Tender for Green Ammonia Project Boosts Renewable Energy Sector in India
Key Ideas
- Hygenco Green Energies invites bids for over 1125 MW of renewable energy to support its Green Ammonia Project, the largest tender of its kind in India.
- The tender offers favorable terms for developers, ensuring a transparent procurement process and aiming to minimize risks in the renewable energy sector.
- The initiative contributes to India's energy security, climate goals, and the National Green Hydrogen Mission, positioning the country as a leader in the green hydrogen market.
- Green ammonia, crucial in the energy transition, is projected to grow globally and will play a significant role in reducing reliance on fossil fuels.
Hygenco Green Energies Pvt Ltd, based in Gurugram, India, has announced a significant development in the renewable energy sector by inviting bids for over 1125 Megawatts of renewable energy to support its Green Ammonia Project. This tender, the largest in India for a green ammonia project, reflects Hygenco's commitment to sustainability and the transition towards green energy solutions. The company aims to procure 625 MW from Solar PV projects and 500 MW through wind power, offering favorable terms to developers to attract a wide range of participants in the renewable energy sector. Amit Bansal, the Co-Founder and CEO of Hygenco, highlighted the company's dedication to facilitating India's energy security and achieving climate goals through this initiative. The production of green ammonia, utilizing renewable energy sources, is seen as a crucial step in the global energy transition, with the market projected to reach $17.9 billion by 2030. This move not only supports India's shift towards a low-carbon economy but also aligns with the National Green Hydrogen Mission's objective of establishing India as a Green Hydrogen Hub by 2030. By investing $2.5 billion over the next three years, Hygenco plans to set up more Green Hydrogen projects in India, following the successful commissioning of India's first Green Hydrogen project in Hisar earlier this year. The official website of Hygenco provides further details for interested bidders, showcasing the company's ambition and action in scaling up India's green hydrogen and green ammonia market.