Gensol Engineering and Matrix Gas Win Big for Green Hydrogen Project in India
New Delhi [India], August 14: Gensol Engineering, in collaboration with Matrix Gas & Renewables, has emerged as a winner for a 237 MW annual capacity bidding under the Production Linked Incentive (PLI) scheme for setting up an electrolyser manufacturing plant. This bid was secured through a competitive tender by the Solar Energy Corporation of India (SECI).
The Gensol-Matrix consortium has secured a cumulative 300 MW capacity, including a prior 63 MW awarded in the first tranche of the SECI tender, which equates to Rs. 450 Crore in cumulative incentives under the PLI scheme. This Production Linked Incentive (PLI), issued by the Ministry of New and Renewable Energy (MNRE) under the National Green Hydrogen Mission, marks a significant milestone in India’s renewable energy landscape.
Electrolysers are key components for the production of Green Hydrogen and its derivatives. The project will play a pivotal role in achieving India’s goal of producing 5 million metric tons of green hydrogen annually by 2030.
“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,” said Anmol Jaggi, Managing Director of Gensol Engineering.
Both companies, Gensol and Matrix, are promoted by common promoters and will continue to collaborate in Green Hydrogen and its derivatives, including Green Steel and Green Ammonia, leveraging the skill sets of each entity.
“Winning the PLI bid for this prestigious project amidst stiff competition from major conglomerates highlights our technological expertise and manufacturing experience as the Gensol-Matrix consortium. The electrolyser manufacturing initiative is central to our strategy for large-scale decarbonization through green hydrogen, aligning with our vision of establishing India as a leader in sustainable, low-carbon energy,” said Chirag Kotecha, Whole-time Director at Matrix Gas and Renewables.
Doubts Revealed
Gensol Engineering -: Gensol Engineering is a company in India that works on projects related to renewable energy, like solar power and now green hydrogen.
Matrix Gas & Renewables -: Matrix Gas & Renewables is another company that focuses on clean energy solutions, like using gas and renewable resources to produce energy.
237 MW -: MW stands for megawatts, which is a unit of power. 237 MW means the plant can produce 237 million watts of power every year.
Electrolyser -: An electrolyser is a machine that uses electricity to split water into hydrogen and oxygen. The hydrogen produced can be used as a clean fuel.
Production Linked Incentive (PLI) scheme -: The PLI scheme is a government program in India that gives money to companies to help them produce more goods, like green hydrogen, to boost the economy.
National Green Hydrogen Mission -: This is a plan by the Indian government to make a lot of green hydrogen, which is a clean fuel, to help reduce pollution and fight climate change.
5 million metric tons -: A metric ton is a unit of weight. 5 million metric tons is a huge amount, showing how much green hydrogen India wants to produce every year by 2030.
Consortium -: A consortium is a group of companies that work together on a big project. In this case, Gensol Engineering and Matrix Gas & Renewables are working together.
300 MW capacity -: This means the total power capacity that the Gensol-Matrix group can produce, which includes the new 237 MW and a previous 63 MW.
Rs. 450 Crore -: Rs. stands for Indian Rupees, and Crore is a unit in the Indian numbering system. Rs. 450 Crore is a very large amount of money, around 4.5 billion rupees.
