Greenzo inks MoU for Rs 200 cr investment to supply electrolysers for green hydrogen projects in Gujarat

FIle photo

Electrolyser manufacturer Greenzo has inked a Memorandum of Understanding (MoU) with RBM Infracon Limited to supply electrolysers with a total capacity of 15 MW across Jamnagar, Kutch, and Bhuj. The project, backed by an investment of Rs 200 crore, was announced during a press event on October 4.

Under the MoU, Greenzo Energy will lead the design, development, engineering, procurement, and commissioning of the plants. The comprehensive services will cover a wide range of components, including the company’s indigenously developed electrolyzer units with each unit rate 5 MW, separation units, purification units, and storage facilities.

The project is slated to commence in the fourth quarter of FY 2024-25 and will be implemented in phases over an 18-month period. The first phase will commence in Jamnagar, followed by expansion into Kutch and Bhuj based on market demand, according to the statement. Greenzo, which has a current capacity of 250 MW, will start rolling out the electrolysers for the projects from December this year.

"We aim to supply green hydrogen produced from these facilities to steel companies, refineries, petrochemicals firms etc in Gujarat," sai J.M. Mani, managing director of RBM Infracon. Mani added that the facilities are strategically located around refineries wherein supply of the green hydrogen via pipeline is doable. The company said it in active discussions with refineries and other companies in the state, however no concrete offtake agreement has been made.

With this order, Greenzo's order book now stands at Rs 1,400 crore, of which Rs 1,000 crore is expected to be realized in the financial year 2025-26, according to Managing Director Sandeep Agarwal. The company, which emphasizes that its electrolysers are fully manufactured domestically without reliance on foreign rawmaterials, aims to scale its production capacity to 1 GW by 2026 and 2 GW by 2028. MMeanwhile, 40 percent of Greenzo's customer base is located outside India.

The company said its alkaline electrolyzer, produced at its Sanand facility in Gujarat, is customized to India's climate and provides a longer lifespan along with the ability to deliver hydrogen at 30 bar pressure, which eliminates the need for additional compressors. The company recently secured a multi-crore contract.