Last Updated on 12th February 2024
The joint venture between Gensol Engineering and Matrix Gas Renewables successfully secured the production-linked incentive bid for a 63 MW advanced electrolyzer plant. This achievement came under the SIGHT program's PLI scheme, a part of India's National Green Hydrogen Mission.
Gensol aims to leverage this opportunity to foster global partnerships, facilitate technological exchange, and drive innovation. The collaboration signifies a significant stride towards advancing the adoption of green hydrogen on a global scale. It is a pivotal component of India's National Green Hydrogen Mission, which targets an annual production of 5 million metric tonnes of green hydrogen by 2030.
With common promoters, Gensol and Matrix can capitalize on their combined expertise and collaborate effectively in the green hydrogen domain. Gensol brings extensive experience in manufacturing and engineering, while Matrix contributes its knowledge in green hydrogen infrastructure development and natural gas aggregation. This synergy is expected to accelerate the project's progress and ensure its success. Explore our comprehensive Indian green hydrogen database to learn more about similar joint venture projects
The project's alignment with India's ambitious green hydrogen mission underscores its importance as a cornerstone of the nation's commitment to achieving net-zero emissions. Green hydrogen, produced using renewable energy sources like solar or wind power, presents a sustainable alternative to fossil fuels, contributing to cleaner air and reduced greenhouse gas emissions.
|What is a PLI (Production-Linked Incentive)?
|A production incentive (PLI) scheme is a government program that provides financial incentives to companies that increase their production of certain goods or services within the country. The goal of PLI schemes is to boost domestic manufacturing, create jobs, and reduce reliance on imports.
Gensol Group is a leading renewable energy solutions provider based in India. Founded in 2008, they have established themselves as a prominent player in the solar and renewable energy industries, boasting a portfolio of over 33,693 MW projects completed. Their core strengths lie in solar advisory, solar EPC (engineering, procurement, and construction), and operations and maintenance (O&M).
Beyond solar, Gensol Group is actively expanding its horizons into other renewable energy sectors. They are making significant strides in wind energy, energy storage, electric vehicles (EVs), and EV manufacturing. To find out more details about Gensols EV manufacturing and solar power projects, check out our database.
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