Gensol Engineering Ltd and Matrix Gas & Renewables Ltd have emerged as a winning bidder for 237 MW annual capacity under the Production Linked Incentive (PLI) scheme for setting up an electrolyser manufacturing plant. This bid was secured through a tender by Solar Energy Corporation of India (SECI).

"The Gensol-Matrix consortium has secured a cumulative 300 MW capacity, including a prior 63 MW awarded in the first tranche of the SECI tender that equates to Rs. 450 Crore cumulatively incentive under the PLI scheme," the company said in an exchange filing.

This Production Linked Incentive (PLI), issued by the Ministry of New and Renewable Energy (MNRE) under the National Green Hydrogen Mission, marks a significant milestone in India’s renewable energy landscape. Electrolyser is the key component for the production of Green Hydrogen and its derivatives. This project will play a pivotal role in achieving India’s goal of producing 5 million metric tons of green hydrogen annually by 2030.

Earlier, Gensol Engineering Ltd informed exchanges that it has won the bid for 116 megawatt of solar projects in Gujarat.