Waaree Energies, one of India’s largest solar panel manufacturer, is all set to establish a substantial one GW electrolyzer manufacturing facility in 2024. The new facility will be situated in Valsad, Gujarat, and will focus on the production of alkaline electrolyzers. These devices are essential for splitting water into hydrogen and oxygen using renewable energy sources, contributing to the production of green hydrogen.
Among the various electrolyzer technologies available, alkaline electrolyzers have gained prominence for their ability to handle large capacities and their relatively lower manufacturing costs. However, they do come with higher maintenance expenses and corrosion-related complexities, which can reduce the lifespan of the electrodes.
As reported by The Economic Times, currently, Chinese electrolyzers are priced 40-50% cheaper than those manufactured in India. Indian companies are striving to produce hydrogen at a cost of $1 per kilogram, which would require significant reductions in the costs associated with renewable energy, energy storage, and investments in electrolyzer production. In addition to this, Waaree is also considering a backward integration strategy by setting up a substantial 5.4 GW solar cell manufacturing capacity.
Hitesh Doshi, Chairman and MD, Waaree Energies commented, “We are starting with alkaline right now and will move to the new technologies step by step. We are in talks with various technology owners right now”.
