Will add about 3,000 MT capacity of green hydrogen and its derivatives in FY24: Jakson Green Global CCO

Vish Iyer, Global CCO, Jakson Green said that by 2030 the company aims to produce half a million ton of green ammonia or other derivatives of green hydrogen every year.

Jakson Green, the energy transition platform of Jakson Group, is going to add capacity of nearly 3,000 metric tons (MT) of green hydrogen and its derivatives in this financial year, the company’s global Chief Commercial Officer (CCO), Vish Iyer told Moneycontrol in an interview.

“We will be delivering a total of about 3,000 MT of green ammonia, green methanol and green hydrogen this financial year,” he said.

The company, as of now, plans to focus more on derivatives of green hydrogen such as green ammonia and methanol. “By 2030, we aim to produce half a million tonne per annum of green ammonia or other derivatives of green hydrogen,” Iyer said.

As for green hydrogen production, Jakson Green aims to commission 100 MT of green hydrogen capacity this year. It is also working on three projects in this segment - two with NTPC for building a methanol synthesis plant in Madhya Pradesh and a green hydrogen refuelling station in Delhi’s Badarpur for fuel cell buses proposed by the Union government, while the third project is with Steel Authority of India (SAI), in which the company is decarbonising SAI’s cold-rolled mills by providing them green hydrogen through electrolysis instead of hydrogen produced using natural gas internally.

All three projects will be commissioned in FY 25, the CCO said.

Talking about Jakson Green’s operations, Iyer said the company has firmed up four verticals for the same - renewable engineering procurement and construction (EPC); renewable and new energy assets; manufacturing of electrolysers; Operations and Maintenance (O&M) business.

“For electrolyser manufacturing, we would seriously look at expanding through a partnership or a joint venture (JV) of sorts. We are also evaluating if can participate in the incentive schemes of the government for green hydrogen,” Iyer said.

After being approved by the Union Cabinet on January 4, the government released a blueprint for its ambitious National Green Hydrogen Mission on January 13, with a total initial outlay of Rs 19,744 crore, of which Rs 17,490 crore has been kept for the production-linked incentives (PLIs) for producing green hydrogen and manufacturing electrolysers.

In the renewable segment, Jakson Green has set a target of being a 5 GW “independent energy producer”, and by 2030, it intends to scale it up to 10 GW. For this, the company plans to scale up its renewable energy (RE) capacity by 1-1.5 GW annually.

Iyer said the group as a whole (Jakson Group) has decided to scale up its solar manufacturing capacity from the current 1 GW to 2 GW. Currently, the company has only solar module manufacturing capacity which will be expanded to include cell manufacturing as well, he said.

“If you look at our third-party EPC business, we are north of 1.5 GW of order-book within a very short time from inception. And this includes EPC transactions that we are not only doing in India but also in the international markets. In India, we are building almost a gigawatt of projects in the Rajasthan belt for different clients in the commercial and industrial sectors," he added.

The company is focusing on expanding its EPC solar project base in the Commonwealth of Independent States (CIS) region, which includes countries such as Azerbaijan, Kazakhstan and Uzbekistan.

Currently, it is delivering a solar energy portfolio of more than 300 MW in the region and has also set up its regional headquarter there. Further, Jakson Green is also focusing on doing projects in the Middle East and in Africa.