Gensol, Matrix Gas win Rs 450 cr PLI scheme for hydrogen electrolyser mfg | Company News
Electrolyser stack reference Photo: Gensol Engineering
Gensol Engineering Ltd and Matrix Gas & Renewables Ltd emerged as the winning consortium for a 237 MW hydrogen electrolyser manufacturing capacity under a production linked incentive (PLI) scheme. This award is part of a competitive tender issued by the Solar Energy Corporation of India (Seci), with the total capacity secured by the consortium reaching 300 MW.
The Gensol-Matrix consortium’s winning bid secures a cumulative capacity of 300 MW, which includes a prior award of 63 MW under the first tranche of the Seci tender. The total incentive under the PLI scheme amounts to Rs 450 crore.
PLI part of India’s National Green Hydrogen Mission
Electrolysers are essential for the production of green hydrogen, a key element in the global push towards decarbonisation. The Gensol-Matrix project will, therefore, play a crucial role in this effort, further solidifying India’s position as a leader in sustainable energy.
“The electrolyser manufacturing initiative is central to our strategy for large-scale decarbonisation through green hydrogen, aligning with our vision of establishing India as a leader in sustainable, low-carbon energy,” Chirag Kotecha, whole-time director, Matrix Gas and Renewables explained.
The project is poised to contribute significantly to India’s ambitious target of producing five million metric tons of green hydrogen annually by 2030.
Speaking on the PLI, Anmol Jaggi, managing director, Gensol Engineering said, “Winning this PLI capacity under the National Green Hydrogen Mission is a testament to our commitment and technical capabilities. It not only strengthens our position in the green hydrogen sector but also opens up new avenues for growth and collaboration in renewable energy.”
“This achievement amid stiff competition from major conglomerates highlights our technological expertise and manufacturing experience,” Kotecha added.
Both Gensol and Matrix are promoted by common stakeholders and will continue to collaborate in the green hydrogen sector, particularly in the production of green derivatives such as green steel and green ammonia. This partnership will leverage the combined expertise of both entities to drive forward India’s energy transition and decarbonisation efforts.
First Published: Aug 14 2024 | 11:18 AM IST
