Gensol wins 63-MW PLI award to develop advanced electrolyser plant
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Gensol Engineering has announced that it has won a bid for the manufacturing capacity of an advanced electrolyser plant. This award has been secured by Gensol along with Matrix Gas & Renewables.
The company also said that the order is achieved under the Sustainable Hydrogen Innovation & Green Hydrogen Technologies (SIGHT) program.
The SIGHT program resembles a Production Linked Incentive (PLI) initiative tailored for the Green Hydrogen sector. The selected project, boasting a manufacturing capacity of 63 MW per year, is poised to make a substantial contribution towards India’s ambitious target of generating 5 million metric tons of green hydrogen annually by 2030.
Gensol said in a mandatory exchange filing, “This aligns with the national Green Hydrogen Mission, bolstered by the Production Linked Incentive (PLI) scheme, underpinning our collective pursuit of net-zero emissions and sustainable development.”
Ali Imran Naqvi, CEO (EPC Business), Gensol Engineering Ltd, said, “We are immensely thankful for the trust placed in us by the Government of India and our stakeholders. Green hydrogen is pivotal in the world’s transition to sustainable energy, and Gensol,
leveraging this opportunity, aims to foster global partnerships, technological exchange, and innovation. Together, we are set to catalyse the adoption of green hydrogen globally, marking a new era in energy sustainability.”
Recently, Gensol secured an EPC contract from the National Hydroelectric Power Corporation, to build a green hydrogen based mobility station in the heights of Kargil, Ladakh to power hydrogen fuel cell based buses.
