Gensol Engineering and Matrix Gas consortium win PLI bid for hydrogen electrolyser manufacturing

Gensol Engineering and Matrix Gas consortium win PLI bid for hydrogen electrolyser manufacturing

The awarded project is strategically positioned to contribute to India’s ambitious goal of producing 5 mn metric tons of green hydrogen annually by 2030

  • By ICN Bureau | February 13, 2024

Gensol Engineering Ltd., a leader in sustainable energy solutions, together with Matrix Gas & Renewables Ltd., fastest growing green hydrogen infrastructure developer and natural gas aggregator, is proud to announce the grant of manufacturing capacity for an advanced electrolyser plant under the auspices of the Sustainable Hydrogen Innovation & Green Hydrogen Technologies (SIGHT) program.

This initiative signifies a pivotal step forward in India's commitment to green hydrogen as a cornerstone of its decarbonization strategy and net-zero emission commitment.

The awarded project, with a manufacturing capacity of 63 MW per annum, is strategically positioned to contribute significantly to India’s ambitious goal of producing 5 million metric tons of green hydrogen annually by 2030. 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.

The awarding of the Manufacturing Capacity to Gensol and Matrix under the SIGHT PLI Scheme's Tranche-I, as part of the National Green Hydrogen Mission, is a significant endorsement of their dedication to the renewable energy landscape, which not only solidifies their position as comprehensive green hydrogen solutions providers but also enhances their technical expertise. Furthermore, it paves the way for new growth opportunities and partnerships within the renewable energy domain, reinforcing their role in advancing the transition to sustainable energy sources.

Commenting on this achievement, 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. This milestone is not just a testament to our commitment to India's green hydrogen mission but also a beacon of our aspiration to drive global decarbonization efforts. 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.”

"It is a privilege for the Matrix and Gensol consortium to be chosen for this distinguished project, signalling a monumental leap in India's green hydrogen development. Selected amidst stiff competition from major conglomerates, our consortium stands out for its technological expertise and manufacturing experience. Electrolyser manufacturing is a cornerstone of our strategic initiative, aligning seamlessly with our ambition for large-scale decarbonization through the deployment of green hydrogen production plants.

“This endeavour supports our commitment to engineering, procurement, commissioning, as well as build-own-operate models for our esteemed clientele. We are eager to harness our collective capabilities to establish a state-of-the-art electrolyser manufacturing facility, propelling India towards a sustainable, low-carbon future," remarked Chirag Kotecha, Whole-time Director, Matrix Gas and Renewables Limited.

Gensol and Matrix are both companies promoted by common promoters and will continue to collaborate in the green hydrogen domain taking benefit of the skill sets of each entity.

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