Japan International Cooperation Agency (JICA) facilitated a strategic collaboration between Mitsubishi Power and Hygenco Green Energies through a Memorandum of Understanding (MOU) to seek the possibility to deliver green hydrogen/ammonia-fired gas turbine combined cycle (GTCC) power plants. The collaboration, facilitated by JICA India Office, aims to provide these integrated solutions in India and internationally.
The collaboration aligns with India’s ambitious national green hydrogen mission. Hygenco will supply green fuel for Mitsubishi Power’s GTCC technology to the potential customers. The company will develop and deploy scaled-up, commercially viable green hydrogen and green ammonia production assets on a build-own-operate or gas-as-a-service basis.
Mitsubishi Power is developing hydrogen and ammonia firing technologies to decarbonize existing GTCC plants by converting their fuel from natural gas to hydrogen/ammonia. The company has been involved in multiple projects worldwide.
JICA invested the NEEV II Fund, whose fund manager is SBI Ventures Limited (SVL) as a limited partner in December 2021 and Neev II Fund subsequently invested Hygenco in October 2022.
SAITO Mitsunori, Chief Representative, JICA India stated, “JICA is committed to supporting the development of green hydrogen technologies. This collaboration between Hygenco and MHI exemplifies the international cooperation needed to address climate change and promote sustainable growth. JICA will continuously support this collaboration and looking forward to delivering the impact brought JICA – Neev Fund co-creation platform”.
“The collaboration will synergize Hygenco’s green fuel supply with Mitsubishi’s technology in India and globally, embodying the spirit of Vasudhaiva Kutumbakam – the world is one family” stated Amit Bansal, CEO, Hygenco Green Energies.
Bansal added, “We are excited to leverage our expertise in green hydrogen and ammonia to support the decarbonization of power generation and contribute to a sustainable energy future”.
“We believe the collaboration will pave the way for innovative and sustainable energy solutions,” said Prem Prabhakar, MD and CEO, SBI Ventures Limited that manages NEEV II Fund, which is an investor in Hygenco. Prabhakar added, “Investing in green hydrogen and ammonia production is crucial for India’s energy security, energy transition, and environmental goals”.
As per the press release, Mitsubishi Power is developing hydrogen and ammonia firing technologies to decarbonize existing GTCC plants by converting their fuel from natural gas to hydrogen/ammonia. The company has been involved in multiple projects worldwide.
