Gensol Engineering and Matrix to Pioneer India’s First Green Hydrogen Valley in Pune

On September 11, 2024, Gensol Engineering Limited, in collaboration with Matrix Gas & Renewables Ltd, announced their joint project to establish India’s first Green Hydrogen Valley in Pune. 

The Gensol-Matrix partnership will set up a Green Hydrogen production plant on a Build, Own, and Operate (BOO) basis to supply Green Hydrogen to the speciality chemical sector, with a 20-year firm offtake agreement. 

Both companies, promoted by common promoters, will continue to collaborate in the Green Hydrogen and its derivatives, including Green Steel and Green Ammonia. This project marks a significant step towards advancing India’s renewable energy goals and establishing a sustainable hydrogen economy in the country.

Commenting on this development, the Managing Director of Gensol Engineering Ltd, Anmol Jaggi, said, “We feel immense pride to develop India’s first Green Hydrogen Valley project. The Government of India has taken a great step in promoting these Hydrogen Valleys through the Department of Science & Technology (DST). We are going to supply Green Hydrogen to the specialty chemical Sector in Pune, Maharashtra on round the clock (RTC) basis to develop the Green Hydrogen economy in India”

The Whole-time Director at Matrix Gas and Renewables Ltd, Chirag Kotecha, stated, “We are committed to contribute to India’s net-zero targets by achieving the key aspects of the National Green Hydrogen Mission. This Green Hydrogen valley is being facilitated by National Chemicals Laboratories (NCL), Pune in Kurkumbh region. We will have an opportunity to establish such Green Hydrogen generation concepts, its applications and R&D facilities. We have been selected through competitive tender as the best bidder (both Technically and Commercially) to set up a Green Hydrogen Generation plant on BOO basis through Electrolysis route.” 

About Gensol Engineering Limited

Gensol Engineering Limited is a leading player in the renewable energy sector. The company specialises in solar power engineering, procurement, and construction (EPC) services, along with electric mobility solutions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.