India's first green hydrogen valley to come up in Pune
What's the story
Gensol Engineering Ltd has announced its successful bid, to create India's inaugural green hydrogen valley project in Pune. The company will be collaborating with Matrix Gas & Renewables, a firm specializing in green hydrogen infrastructure development and natural gas aggregation. This pioneering initiative is being supported by the National Chemicals Laboratories (NCL), that is based in Pune.
Production details
Matrix to build and operate the production plant
Matrix has committed to constructing and managing the green hydrogen production facility. The company will operate on a Build Own and Operate (BOO) model, supplying green hydrogen to the specialty chemical sector for a span of 20 years. This strategic partnership was formed after a competitive tender process, where both Gensol and Matrix emerged as the top contenders based on technical and commercial criteria.
Future plans
Commitment to India's green hydrogen economy
Anmol Singh Jaggi, the Managing Director of Gensol, stated that the company plans to provide green hydrogen to Pune's specialty chemical sector on a 24/7 basis. This move is aimed at fostering the growth of India's green hydrogen economy. In their exchange filing, Gensol revealed that both companies share common promoters and will continue their collaboration in areas, related to green hydrogen and its derivatives like green steel and green ammonia.
Company growth
Gensol's recent achievements and future prospects
Gensol recently secured India's inaugural bio-hydrogen project and a solar power project in Gujarat. The company also made its entry into the US market in August. As one of the largest project developers for standalone battery energy storage systems, Gensol continues to make strides in renewable energy. In the June quarter, it bagged its first project under Kusum Yojana for 116MW capacity.