The grant came under the Sustainable Hydrogen Innovation & Green Hydrogen Technologies (SIGHT) programme and will support the project in advancing India’s hydrogen ambitions of producing five million metric tonnes annually by 2030.
Expected to have a manufacturing capacity of 63MW, the project is slated to align with the National Green Hydrogen Mission, bolstered by the Production Linked Incentive (PLI) scheme.
India’s National Green Hydrogen Mission is planned to deliver Rs. 19,744 crores ($2.3bn) until 2029-30. Under the SIGHT programme, two distinct financial incentive mechanisms – targeting domestic manufacturing of electrolysers and green hydrogen production – were introduced to cut emissions and drive exports.
Read more: India approves $2bn incentive plan to boost green hydrogen
Ali Imran Naqvi, CEO (EPC) Business at Gensol Engineering, claimed the consortium will catalyse the adoption of green hydrogen globally, “marking a new era in energy sustainability.”
“Selected amidst stiff competition from major conglomerates, our consortium stands out for its technological expertise and manufacturing experience,” added Chirag Kotecha, Whole-Time Director at Matrix Gas and Renewables Limited.
“We are eager to harness our collective capabilities to establish a state-of-the-art electrolyser manufacturing facility, propelling India towards a sustainable, low-carbon future,” he added.
The announcement comes after an India Hydrogen Alliance (IH2A) report estimated the addressable market for Indian-manufactured hydrogen equipment could reach $50bn by 2030 – with $9bn earmarked for domestic production plant equipment.
Read more: India’s hydrogen equipment market could reach $50bn by 2030, says IH2A