Ocior Energy to Invest ₹400 Billion in Green Hydrogen Facility in Gujarat
The facility is expected to produce 1 million tons of green hydrogen annually
The Industries Department of Gujarat and Ocior Energy India signed a memorandum of understanding (MoU) for the development of a green hydrogen and green ammonia project in the Kutch district with an investment of ₹400 billion(~$4.8 billion) and a production capacity of 1 million tons per annum.
The MoU was signed between the Chief Executive Officer of Ocior Energy Ranjit Gupta and the Additional Chief Secretary of the Industries Department Kamal Dayani in the presence of Chief Minister Bhupendra Patel at Gandhinagar.
The production of green hydrogen and green ammonia and the necessary renewable energy project will be started in two phases by 2030 in Gujarat.
The proposed project is expected to generate over 10,400 direct and indirect employment opportunities.
Gupta said that with the project, the Prime Minister’s vision of “Make in India-Make for the World” will be realized through ammonia which will be produced in Gujarat and sent to other international destinations.
Ocior Energy, which first started in the United Arab Emirates, develops, builds, and operates green hydrogen and ammonia facilities including the renewable energy facilities needed to generate these green fuels.
The company aims to develop and construct 4 GW capacity of green hydrogen and green ammonia projects across India, the Middle East, and North Africa by 2030.
Last December, Delhi-based Greenzo Energy India said it would invest $50 million to manufacture 250 MW of anion exchange membrane electrolyzers per year in Gujarat to support green hydrogen projects.
In August 2022, Larsen & Toubro announced the commissioning of a green hydrogen facility at its AM Naik Heavy Engineering Complex in Hazira, Gujarat. The facility would produce 45 kg of green hydrogen daily, which would be used for captive consumption at its Hazira manufacturing complex.
Earlier this year, the Union Cabinet approved the National Green Hydrogen Mission to facilitate demand creation, production, utilization, and export of green hydrogen with an initial outlay of ₹197.44 billion (~$2.3 billion).
The mission seeks to promote the development of a green hydrogen production capacity of 5 million tons per year in the country with an associated renewable energy capacity addition of about 125 GW in the country by 2030.