Welspun World, a diversified group, announced a significant investment of ₹40,000 crore towards establishing a green hydrogen and green ammonia ecosystem in Gujarat. The investment will be channelled through Welspun New Energy Ltd (WNEL), a subsidiary of the group.
WNEL will explore opportunities for the development of projects related to green hydrogen and its derivatives within the state. Notably, WNEL secured a position as one of the successful bidders in the Solar Energy Corporation of India’s (SECI) SIGHT tender, earning incentives for the production of 20,000 metric tons per annum (MTPA) of green hydrogen.
As reported by Business Standard, the Gujarat government has granted in-principle approval for WNEL to undertake renewable energy projects on a vast expanse of 20,000 acres of land. WNEL is in the advanced stages of developing 1,000 megawatts (MW) of renewable energy projects tailored for prominent manufacturing units in Gujarat.
