Hygenco Green Energies Pvt Ltd, a company producing cost-effective green hydrogen, announced bids for over 1125 MW (1.1 GW) of renewable energy to power its upcoming green ammonia project.
This marks the largest renewable energy tender for a green ammonia initiative in India, showcasing Hygenco’s dedication to sustainability.
The company plans to source 625 MW from solar PV projects and 500 MW from wind energy. The tender is structured to offer developers favourable terms, reducing risks and ensuring a transparent procurement process, which is expected to draw wide participation from the renewable energy sector.
Amit Bansal, Co-Founder and CEO of Hygenco stated, “As one of the few pure-play green hydrogen companies with operational assets, Hygenco is advancing quickly towards its goal of bolstering India’s energy security and addressing climate challenges. This over 1 GW tender is one of many milestones we’ve reached and underscores our commitment to scaling up India’s Green Hydrogen and Green Ammonia sectors”.
Green ammonia, generated using renewable energy, is seen as a key player in the global energy transition. The market for green ammonia is expected to grow to $17.9 billion by 2030 as industries shift away from fossil fuels.
As reported by prnewswire.com, the large-scale energy procurement is set to play a pivotal role in India’s shift toward a low-carbon economy while supporting the national green hydrogen mission, which aims to position India as a green hydrogen hub by 2030.
