GreenZo Energy said that it will invest up to Rs 400 crore in a 250 MW electrolyser facility. The firm would also invest Rs 70 crore in R&D for the manufacture of the green hydrogen electrolyzer in 2022-23, according to the company.
The business stated in a statement, “It intends to build a 250 MW electrolyser facility by the end of 2025, with an expenditure of Rs 3-4 billion. This will ensure that end-to-end solutions are available within the country, reducing reliance on imports for this critical equipment. Local electrolyser production is critical for lowering the price of green hydrogen to USD 1-2 per kilogramme by 2030”.
Sandeep Agarwal, founder and Chairman of GreenZo Energy, said the company will invest over Rs 70 million on the R&D department on technology for production of the green hydrogen electrolyzer in 2022-23.
