TKIL Industries Makes Strategic Investment in SoHHytec SA for Green Hydrogen Projects in India
Key Ideas
- TKIL Industries invests in SoHHytec SA, becoming exclusive partner in India for green hydrogen projects.
- Plans to scale up from 100 megawatt to giga-scale in five years with estimated investment of Rs 1,500-2,000 crore.
- SoHHytec uses proprietary artificial photosynthesis technology for green hydrogen production from renewable sources.
- Green hydrogen to cater to industrial sectors like steel, fertilisers, bio-chemicals, cement, and transportation in India.
TKIL Industries Pvt. Ltd., formerly known as thyssenkrupp Industries India Pvt. Ltd., announced its strategic investment in SoHHytec SA, based in Lausanne, Switzerland, for an undisclosed amount. This investment positions TKIL as the exclusive partner in India for SoHHytec, enabling manufacturing, supply of specific equipment, and implementation of green hydrogen projects. The company aims to start with a 100 megawatt scale and expand to a giga-scale within five years, requiring an estimated investment of Rs 1,500-2,000 crore. SoHHytec specializes in green hydrogen production using its proprietary artificial photosynthesis technology, which leverages renewable energy sources like solar and wind. This innovative technology allows for the setup of electrolysis units in both on-grid and off-grid locations, a first of its kind in India. Vivek Bhatia, managing director and CEO of TKIL Industries, expressed confidence in the market response, with the company ready to accept orders within a 12-month delivery timeframe. The green hydrogen produced will benefit various industrial sectors crucial for India's energy transition and decarbonisation goals. TKIL executives also highlighted their plans to engage with multiple states for favorable policy support to establish these green hydrogen units.