Hygenco Green Energies is planning to invest USD 2.5 billion over three years to establish green hydrogen projects across multiple states in India as part of its strategic plan to expand business opportunities in local market for clean fuel.
Presently, the company is producing green hydrogen at two plants, including research and development (R&D)-cum demonstration unit of around 140 KW in Ujjain, Madhya Pradesh in 2022, and a second plant of around 3 MW renewable energy (RE) capacity is currently in the final commissioning stage in Hisar, Haryana.
Hygenco has two more plants, with 15 MW capacity in Phase-I, under construction in Maharashtra. The company is now working on projects of 50-200 MW scale, actively developing projects in over seven states where customers belong to refineries, steel, fertilizers and other industries. It has projects lined up where it has secured land and active ordering and development or construction work is underway. For the next 3 years, the firm is expecting investment in total capex of around USD 2.5 billion in India.
Hygenco is a pure-play Green Hydrogen platform largely operating on the build-own-operate (BOO) business model. Its core strength is its specialist expertise in the design, engineering, and technology for Green Hydrogen production to reduce the cost of production of green hydrogen and ammonia.
