A wholly owned subsidiary of Adani Enterprises Ltd. has received an order from Solar Energy Corp. for setting up a manufacturing capacity for electrolysers as part of the National Green Hydrogen Mission.
Adani New Industries Ltd. received the Letter of Award to set up a manufacturing capacity of 198.5 megawatts per annum for electrolysers under the Strategic Interventions for Green Hydrogen Transition scheme, according to an exchange filing on Friday.
The plant will be constructed under the Production-Linked Incentive scheme for electrolyser manufacturing to give a boost for generation of green hydrogen.
Electrolysers, which use electricity to split water into hydrogen and oxygen, are a critical technology for producing low-emission hydrogen from renewable or nuclear electricity.
The company will receive a maximum incentive of Rs 293.8 crore over five years. The manufacturing facility will be set up in 30 months, it said.
Last year, the Union government had rolled out the PLI scheme for green hydrogen generation under the NGHM. The SIGHT programme for electrolyser manufacturing has an allocation of Rs 4,440 crore by FY30. The incentives start from Rs 4,440 per kilowatt in the first year and end at Rs 1,480 per kW in the fifth year.
Hydrogen is a clean energy source and is mainly used in the refining and chemical sectors and produced using fossil fuels, such as coal and natural gas.
The Adani Group has pledged major investments in green hydrogen as part of its ambitious $100 billion plan to shift to clean energy sources for its portfolio companies.
Shares of Adani Enterprises closed 0.77% higher at Rs 3,104.25 apiece on the BSE, as compared with a 1.18% advance in the benchmark Sensex.
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