Hygenco signs offtake agreement with Jindal Stainless Limited
Gurugram: Jindal Stainless Limited (JSL), one of the biggest stainless-steel conglomerates in the world, and Hygenco India Private Limited, a global pioneer in delivering green hydrogen solutions, have signed India’s first long-term off-take deal. The Green Hydrogen project will be built, owned, and operated by Hygenco for 20 years under the first off-take arrangement of its sort in India.
Additionally, it will be the first multi-megawatt plant with long-term offtake to be commissioned in Asia in the upcoming 12 months.
India, which depends heavily on imports to meet its energy demands, would need to widely adopt and scale up green hydrogen across industries. This will provide the Government’s ambitious National Hydrogen Mission, which plans to produce five million tonnes of renewable hydrogen by 2030, a considerable boost.
By lowering JSL’s annual carbon emissions by around 2,700 metric tonnes, the Green Hydrogen plant will promote sustainable development and enable decarbonization. In the next three years, Hygenco hopes to invest more than USD 300 million in Green Hydrogen projects across the nation.
According to Hygenco CEO Amit Bansal, this is one of the most important milestones for the hydrogen sector in India and throughout the world since it shows how competitive and economical green hydrogen is. We consider it an honour to work with one of the biggest corporations in the world and contribute to the decarbonization of one of the most energy-intensive industries, steel manufacture.
Hygenco has extensive experience in planning, constructing, and running green hydrogen projects. An sophisticated Energy Management and Control System will be in charge of managing the cutting-edge, completely autonomous facility. The system makes autonomous real-time decisions for achieving high efficiency while monitoring a number of characteristics, including hydrogen generation, renewable energy generation, states of charge, pressure, and temperature. The technology enables the business to increase hydrogen yield and provide end customers with hydrogen that is competitively priced.