India revises list of electrolyser subsidy winners

The Indian government has revised its list of winners for the first auction for electrolyser manufacturing subsidies, originally announced in January, after steelmaker Jindal — which had won incentives for 300MW of annual manufacturing capacity — dropped out of the process.

According to anonymous sources cited by local newspaper Mint in early February, Jindal had missed a deadline on 3 February for bank guarantees needed before the government could sign off on the production-linked incentives.

This left 300MW per year of manufacturing capacity, with a maximum incentive of 4.44 billion rupees ($53.5m), to be redistributed among bidders (see table below).

Engineering company Larsen & Toubro, which had in January seen its 300MW/year bid partially awarded to cover 63MW/year, has now been awarded production-linked incentives for its full bid.

Meanwhile, Matrix Gas and Renewables, which had been left off the original winners’ list, has now been allocated subsidies for 63MW/year of its 105MW/year bid, worth up to 932.4m rupees.

Awards for a separate block of funding — for “indigenously developed” technology (rather than intellectual property licensed from abroad, such as L&T’s use of McPhy tech) — did not change, as that had already been fully allocated.

_{Revised list of winners for electrolyser manufacturing subsidies in India’s first auction}

^{Source: Solar Energy Corporation of India}

^{* Awarded funding specifically allocated for indigenously-developed electrolyser technology}