Gensol will set up the said project in collaboration with Matrix Gas & Renewables, a green hydrogen infrastructure developer and natural gas aggregator.

Matrix will be setting up the green hydrogen production plant on a Build Own and Operate basis to supply green hydrogen to the speciality chemical sector with an offtake period of 20 years.

The companies were selected through a competitive tender as the best bidder on both technical and commercial grounds.

This green hydrogen valley is being facilitated by the National Chemicals Laboratories (NCL) in Pune.

The companies can establish green hydrogen generation concepts, their applications and R&D facilities.

"We are going to supply Green Hydrogen to the specialty chemical sector in Pune on round-the-clock basis to develop the Green Hydrogen economy in India," said Gensol Managing Director Anmol Singh Jaggi.

Gensol and Matrix are promoted by common promoters and will continue to collaborate in the Green Hydrogen and its derivatives, including Green Steel and Green Ammonia, Gensol said in its exchange filing.