Welspun New Energy Limited (WNEL) signed a Memorandum of Understanding (MoU) with Gujarat Pipavav Port Limited (GPPL) on January 10 to jointly explore opportunities and develop green hydrogen facilities for the production of hydrogen on a land parcel provided by GPPL.
The MoU inked at the Vibrant Gujarat Global Summit 2024, aims to facilitate collaboration in joint production and off-take arrangements for the green molecules produced at the facilities. Gujarat Pipavav Port, promoted by APM Terminals, a part of the AP Moller-Maersk Group, will be part of this venture.
Kapil Maheshwari, Executive Director & CEO of Welspun New Energy, stated, “The collaboration is aimed at creating an ecosystem for GPPL’s transition towards sustainability through a mix of Green Ammonia and Green Methanol. Further, green derivatives will also help Pipavav Port strengthen its position globally as a Green Shipping Line.”
Welspun World, through its entity Welspun New Energy, is committed to supporting Gujarat's decarbonisation goals with a cumulative investment of over Rs 40,000 crores to build a green hydrogen and green ammonia ecosystem in the state.
Welspun New Energy has received in-principle approval from the government of Gujarat for developing renewable energy on approximately 20,000 acres of land for green hydrogen production. WNEL is also in the advanced stages of developing around 1,000 MW of renewable energy projects for leading manufacturing units in Gujarat. The company has executed MoUs with leading hydrogen hubs for the export of domestically produced green molecules.
This announcement is a significant step towards catalyzing the state's vision for a robust and reliable power infrastructure, emphasizing Welspun's dedication to decarbonise the entire value chain and transition to sustainable fuel sources, as stated in a press release by WNEL.
The MoU between WNEL and GPPL was signed at the 10th edition of the Vibrant Gujarat Global Summit 2024, inaugurated by Prime Minister Narendra Modi.
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