Gurugram, October 01, 2024.
Hygenco Green Energies Pvt Ltd, a pioneer in producing low-cost green hydrogen, has invited bids for over 1125 Megawatt (MW)/ 1.1 Gigawatt (GW) of renewable energy, to support its upcoming Green Ammonia Project. This is the largest tender for procuring renewable power for a green ammonia project in India, reinforcing Hygenco’s continued commitment to sustainability.
Hygenco aims to procure 625 MW from Solar PV projects and 500 MW through wind power. The tender offers favourable terms to minimize risk for developers and ensures a transparent procurement process, attracting a broad range of participants in the renewable energy sector.
Amit Bansal, Co-Founder and CEO of Hygenco, said, “As one of the very few, pure-play Green Hydrogen companies with operational assets, Hygenco is rapidly moving towards its mission of facilitating India’s energy security and achieve climate goals. This large tender of over 1 GW is amongst the many firsts achieved by us and demonstrates both our ambition and action in scaling up India’s Green Hydrogen and Green Ammonia market.”
Green ammonia, produced using renewable energy, is considered a crucial solution in energy transition. Globally, the green ammonia market is projected to grow to $17.9 billion by 2030, as industries shift away from fossil fuels.
The large-scale procurement will also contribute to India’s transition toward a low-carbon economy. It also gives a significant fillip to the National Green Hydrogen Mission, which is aiming to make India a Green Hydrogen Hub by 2030.
