BHUBANESWAR, India, May 7, 2024
/PRNewswire/ -- HHP Five Private Limited (subsidiary of Hygenco
Green Energies Pvt Ltd) a pioneer in producing low-cost green
hydrogen, has formally entered into a binding agreement with Tata
Steel Special Economic Zone Industrial Park (GIP), to establish a
large-scale green ammonia project in Gopalpur, Odisha.
Hygenco aims to produce 1.1 Million Tonnes Per Annum (MTPA) of
Green Ammonia from this plant in multiple phases. Hygenco is aiming
to commission the initial phase of the project by December 2026. This collaboration builds upon the
Project approval received in February
2024 from the High-Level Clearance Authority of the esteemed
Chief Minister's office.
Amit Bansal, Founder and CEO,
Hygenco, said, "Having already demonstrated our mettle in
the space of Green Hydrogen by commissioning India's first Green Hydrogen project earlier
this year, we will extend application of our superior technology to
this project thereby producing lowest cost Green Ammonia for our
clients. In line with our strategic vision of being a dominant
player in this sector worldwide, the produce from this plant, in
the initial phase, will be predominantly exported for which
advanced discussions with various off-takers are already taking
place."
Manikanta Naik, Managing Director, Tata Steel Special
Economic Zone Limited, said, "We are very happy to have Hygenco
on-board with us at the Industrial Park. This solidifies our
Industrial Park as a potential green hydrogen/ammonia hub of the
country."
Hygenco has signed several binding long-term offtakes of Green
Hydrogen in India, including the
recently commissioned country's first megawatt scale plant for a
prominent steel company in Hisar, Haryana. Another one for STL
(Vendanta Group) at Maharashtra is under construction.
About Hygenco:
Headquartered in Gurgaon, India, Hygenco develops and deploys scaled-up
commercially attractive green hydrogen and green ammonia assets.
Hygenco, which has deep capabilities in designing, building, and
operating Green Hydrogen projects, has commissioned India's first Green Hydrogen project in Hisar
which was inaugurated by Union Minister of Civil Aviation and Steel
earlier this year. Hygenco is looking to invest $2.5 billion over 3 years to set up Green
Hydrogen projects in India.
For more information on Hygenco, please visit
https://www.hygenco.in/.
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SOURCE Hygenco Green Energies Pvt Ltd