New Delhi [India], August 14 : Gensol Engineering, in collaboration with Matrix Gas & Renewables, emerged as a winner for a 237 MW annual capacity bidding under the Production Linked Incentive (PLI) scheme for setting up an electrolyser manufacturing plant.
The company stated in an official statement that this bid was secured through a competitive tender by the Solar Energy Corporation of India (SECI).
"The Gensol-Matrix consortium has secured a cumulative 300 MW capacity, including a prior 63 MW awarded in the first tranche of the SECI tender, which equates to Rs. 450 Crore in cumulative incentives under the PLI scheme," said the company.
This Production Linked Incentive (PLI), issued by the Ministry of New and Renewable Energy (MNRE) under the National Green Hydrogen Mission, marks a significant milestone in India's renewable energy landscape. Electrolysers are key components for the production of Green Hydrogen and its derivatives.
The company also informed that the project will play a pivotal role in achieving India's goal of producing 5 million metric tons of green hydrogen annually by 2030.
"Winning this PLI capacity under the National Green Hydrogen Mission is a testament to our commitment and technical capabilities. It not only strengthens our position in the green hydrogen sector but also opens up new avenues for growth and collaboration in renewable energy," said Anmol Jaggi, Managing Director of Gensol Engineering.
Both companies, Gensol and Matrix, are promoted by common promoters and will continue to collaborate in Green Hydrogen and its derivatives, including Green Steel and Green Ammonia, leveraging the skill sets of each entity.
"Winning the PLI bid for this prestigious project amidst stiff competition from major conglomerates highlights our technological expertise and manufacturing experience as the Gensol-Matrix consortium. The electrolyser manufacturing initiative is central to our strategy for large-scale decarbonization through green hydrogen, aligning with our vision of establishing India as a leader in sustainable, low-carbon energy," said Chirag Kotecha, Whole-time Director at Matrix Gas and Renewables.
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