GreenZo Energy plans Rs 400 crore investment to set up electrolyser factory 

The company will also spend Rs 70 crore on R&D (Research & Development) for the production of the green hydrogen electrolyzer in 2022-23.

Published: 01st June 2022 06:43 PM  |   Last Updated: 01st June 2022 06:43 PM   |  A+A-

Investment

Image used for representational purpose only

By PTI

NEW DELHI: GreenZo Energy on Wednesday said it is planning to invest up to Rs 400 crore to set up a 250 MW electrolyser factory.

The company will also spend Rs 70 crore on R&D (Research & Development) for the production of the green hydrogen electrolyzer in 2022-23, the company said.

In a statement, the company said, "It plans to set up a 250 MW electrolyser factory, which would consume an investment of Rs 3-4 billion by the end of 2025.

This will ensure the availability of end-to-end solutions within the country and cut down dependence on imports for this key equipment.

Local production of electrolysers is crucial to bringing the cost of green hydrogen to USD 1-2 per kilogram by 2030".

Sandeep Agarwal, founder and Chairman of GreenZo Energy, said the company will invest over Rs 70 million in the R&D department on technology for production of the green hydrogen electrolyzer in 2022-23.

The statement did not provide any further information related to the location of the plant.


India Matters

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp