RPSG Group’s CESC to establish green hydrogen plant on East Coast
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CESC Ltd, owned by RPSG Group, will set up its inaugural green hydrogen plant, marking a significant entry for the RPSG Group flagship into alternative energy sources. As a thermal power producer serving Calcutta and its environs, CESC will construct a 10,500-tonne capacity green hydrogen facility on the east coast.
The venture will receive financial incentives from the Indian government, aligning with the National Green Hydrogen Mission introduced in 2022.
The Solar Energy Corporation India, a government enterprise, has chosen CESC Projects as the preferred entity for implementing the green hydrogen facility. The estimated investment in the green hydrogen project ranges between Rs 450-500 crore.
As per reports, CESC envisions this initiative as the inaugural step in a series of projects aimed at advancing its commitment to green and new energy initiatives. Subsequent to SECI’s award, a pre-feasibility report specific to this project will be developed, with plans to approach various state governments for unit establishment.
This strategic move by CESC coincides with India’s ambition to become a significant consumer and exporter of green hydrogen, a novel clean energy source.
SECI is carrying out project identification and allocation through competitive bidding and is poised to emerge as a green hydrogen aggregator, catering to steel, fertilizer, and refinery units. The aggregate green hydrogen capacity allocated by SECI for bidding stands at 450,000 tonnes per annum.
CESC commitment to green hydrogen underscores a strategic shift by the RPSG Group, which had refrained from power generation projects for nearly a decade due to regulatory risks associated with lengthy gestation periods. A pivotal decision was made recently, as the company board led by Sanjiv Goenka announced a substantial investment in renewable energy generation, targeting up to 3-GW.
