The Electrolyser-as-a-Service agreement with gas distributor Zero Footprint Industries (ZFI) will see Waaree design, engineer, supply, install, commission, own, and operate the 2.5MW alkaline electrolyser to support ZFI’s capacity expansion.
The plant will supply around 4.1 million Nm³ of green hydrogen and two million Nm³ of green oxygen annually to ZFI under a 15-year offtake agreement – equivalent to roughly 370–380 tonnes of hydrogen per year at full capacity.
ZFI intends to offer the gases to customers in sectors like oil, chemicals, steel, and pharmaceuticals to replace existing grey hydrogen.
Waaree expects to bring the project online in the financial year 2026-27, with a “fast track” timeline of around seven months.
In addition to the firm order, the two firms have signed a memorandum of understanding to explore the supply of 50MW under similar contracts for projects across northern India.
“This collaboration allows us to set up multiple decentralised green hydrogen plants having cumulative capacity of ~10,000Nm3/hr in a quickest possible manner,” said ZFI Director Anurag Agarwal.
The Uttar Pradesh plant will use Waaree’s own alkaline electrolyser technology, after the firm secured incentives from the Indian government to set up 300MW of manufacturing capacity.
Waaree’s Hydrogen Business CEO, Anuh Sharma, said the deal allowed the renewable firm to showcase both its technology and operations and maintenance capabilities.
Build-own-operate models for electrolyser OEMs are becoming increasingly popular in the nascent green hydrogen market, as larger-scale developments face delays.
Mirroring the business model of industrial gas companies, it can allow firms to meet existing hydrogen demand in a modular, phased approach.
ZFI Board Advisor Shardul Kulkarni said the agreement was a sign of green hydrogen “maturing.”
“It is a unique win-win… benefitting both the stakeholders: getting a technically and financially responsible partner for green hydrogen developers and a steady state electrolyser pipeline resulting in predictable revenue for electrolyser manufacturers in the long run,” Kulkarni said.
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