While Hero Future will take full ownership of the property, Ohmium will be responsible for the design, construction, operation and maintenance of the facilities.
Hero Future Energies and Ohmium International on Thursday announced a strategic partnership to build a 1,000 MW green hydrogen plant in India, the UK and Europe. While Hero Future will take full ownership of the property, Ohmium will be responsible for the design, construction, operation and maintenance of the facilities. Hero Future will also supply renewable energy to produce green hydrogen. Financial details of the connection have not been released.
The development comes at a time when the government plans to devise a PLI scheme to set up the production capacity of electrolyzers to speed up the uptake of green hydrogen. Electrolyzers are used to produce green hydrogen using electricity produced from renewable sources. Prime Minister Narendra Modi announced the National Hydrogen Mission on August 15 last year as the government explores ways to reduce dependence on imported products such as crude oil and natural gas.
“This is a forward-looking partnership and is in line with Hero Future Energies’ vision as an integrated provider of energy transition solutions,” said Srivatsan Iyer, global executive director of Hero Future Energies, adding that it will “enable us to expand our international footprint. we are penetrating new markets ”. Hero Future Energies is part of the Hero Group of the Munjal family. Its current portfolio includes 1,700 MW of commissioned wind and solar projects with an additional 1,500 MW at various stages of implementation.
The country currently consumes about 6 million tons of hydrogen a year and the government is looking for ways to increase the penetration of domestic green hydrogen into industries that otherwise import natural gas and ammonia to produce hydrogen. The Union Ministry of New and Renewable Energy has already distributed a draft document of the ‘National Hydrogen Energy Mission’ for inter-ministerial consultations, with the aim of creating a hydrogen value chain in the country and reducing the cost of hydrogen production.
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