Hygenco Unveils $2.5 Billion Green Hydrogen Push Across India

Hygenco Green Energies is strategically poised to channel a substantial investment of USD 2.5 billion over the next three years towards the establishment of green hydrogen projects spanning several states in India. This initiative marks a pivotal step in the company's overarching plan to cultivate business opportunities within the local market for sustainable fuel.

Currently, the company operates two green hydrogen production facilities. The first, a research and development cum demonstration unit generating approximately 140 KW, is located in Ujjain, Madhya Pradesh, initiated in 2022. The second plant, boasting a renewable energy capacity of around three MW, is in the final stages of commissioning in Hisar, Haryana.

In addition to these operational units, Hygenco is actively engaged in the construction of two additional plants with a cumulative capacity of 15 MW in Maharashtra's Phase-I. The company is swiftly advancing towards larger-scale projects ranging from 50 to 200 MW, with a robust presence in over seven states. Notably, their clientele hails from diverse industries including refineries, steel, and fertilizers.

With secured land and ongoing development or construction activities in progress, Hygenco is poised for considerable growth over the next three years. The anticipated total capital expenditure in India during this period is projected to reach USD 2.5 billion.

Hygenco operates as a dedicated Green Hydrogen platform, primarily adhering to the build-own-operate (BOO) business model. The company's competitive edge lies in its specialized proficiency in designing, engineering, and implementing cutting-edge technology for Green Hydrogen production. This focus is instrumental in driving down the production costs of green hydrogen and ammonia, solidifying Hygenco's position as a key player in the sustainable energy landscape.

News by Rahul Yelligetti