Indian state racks up nearly $1.5bn in green hydrogen agreements with two companies
The Indian state of Gujarat has signed memoranda of understanding (MoUs) with two companies, Torrent Power and Erisha E Mobility, to build green hydrogen projects worth nearly $1.5bn in combined investments.
Utility Torrent Power has agreed to develop a green ammonia facility worth 72bn rupees ($866m), as part of a wider pledge to invest 470bn rupees ($5.7bn) into power projects in the state.
While local reports indicate the project will have a total production capacity of 100,000 tonnes per year, it is unclear whether this refers to the H2 or NH3.
Torrent had incorporated a green hydrogen subsidiary last week, and had also bid into India’s auction for green hydrogen production subsidies to cover 18,000 tonnes a year. The utility had also launched in July last year a pilot project to blend 2.5% H2 by volume into the city gas grid for Gorakhpur in the northern state of Uttar Pradesh.
Meanwhile, Erisha E Mobility, which was founded in 2021 by conglomerate Rana Group, plans to invest $600m into the green hydrogen plant, which it says it will build with European partners, although further details on size and likely offtake are yet to be disclosed.
The company has also signed MoUs with Gujarat for a $180m electric vehicle manufacturing facility, as well as $50m towards installing 100 charging points.
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Gujarat targets eight million tonnes of annual green hydrogen production by 2035, racking up MoUs with Reliance Industries Limited, Ocior and Essar to build projects. The state had its first pilot plant, a 45kg-per-day facility, commissioned by Larsen and Toubro in 2022.
Conglomerate Adani plans to build a three-million-tonnes-a-year renewable H2 facility in the state, while its largest city, Ahmedabad, has also been proposed as the site of a project launched by Adani Total Gas Limited — a joint venture between Adani and oil major Total Energies— in November to blend 8% hydrogen into the gas grid.
The Indian federal government has set a target of five million tonnes of green hydrogen production a year by 2030, with the potential to scale this up to 10 million tonnes annually depending on how export markets develop.
