Under the partnership, the companies seek to jointly develop solar and wind capacity which will be utilised by GZC’s pumped hydro storage platform and energy storage cloud to supply renewable energy to power a green ammonia plant, leveraging on POSCO’s hydrogen and ammonia experience.
H2 View understands, the partners will jointly explore business opportunities in the following areas:
Competitive renewable energy production in India
Supply of green hydrogen/ammonia to POSCO export and/or Indian domestic markets
Joint production of green hydrogen/ammonia in export oriented special economic zones
Use of steel materials from POSCO in the development of infrastructure for potential projects.
The project comes in line with India’s National Hydrogen Mission which hopes to see the country cut its emissions and become a hydrogen hotspot for both domestic use and export. The mission sets out ambitions of the nation producing five million tonnes of green hydrogen annually by 2030. This and more will be discussed at H2 View’s India Snap Summit on September 2, 2022.
Anil Kumar Chalamalasetty, CEO and Managing Director of Greenko, said, “We are excited to be partnering with POSCO, this pioneering partnership will propel the transformation of India from a carbon-based fossil energy importer to an exporter of Renewable Energy derived products like Green Hydrogen, Green Ammonia and Green Molecules.
“Greenko’s Intelligent Renewable Energy Storage Platform (IRESP) will enable Hon’ble PM Shri Modi Ji’s vision of India’s leadership in the global efforts to combat Climate Change, and establish us as reliable, sustainable source of low cost green ammonia and green molecules to catalyse India’s and the world’s decarbonisation.”
Mr. Chou, Executive Vice-President for Hydrogen at POSCO, added, “We are extremely excited to be partnering with Greenko, India is one of the most strategic hydrogen production hubs due to its ample renewable energy sources coupled with progressive government policies.
“We also believe Greenko is right partner for Green Hydrogen and Ammonia due to their ability to provide “Round the Clock” renewable energy coupled with local electrolysers. He would like to enhance cooperation to produce Green Ammonia and Hydrogen for export market in Asia and Europe.”
H2 View’s Hydrogen in India – Snap Summit
With the launch of its national hydrogen strategy in recent weeks and growing interest in India’s bold ambitions to de-leverage from traditional fossil fuel-based energy, H2 View stages a Snap Summit to address the country’s path forward in hydrogen.
India plans to manufacture five million tonnes of green hydrogen per annum by 2030 and not just meet its own climate objectives but become a production and export hub for the clean fuel.
Some sources question a lack of detail over the wider ecosystem while others still point to the country’s reliance on coal power. Yet, the world’s third-largest energy consuming country is already embracing renewable energy, its solar power sector is moving forward, and data suggests coal’s hold over India’s power sector is steadily loosening. The grid is already evolving.
The question is, how can a renewable energy powerhouse fast-track to true sustainability with green hydrogen? Join H2 View and a programme of global hydrogen leaders to unlock answers and insights for the short, medium, and long-term future in India.
Want to learn more? Click here.