Greenzo To Ramp Up Electrolyser Manufacturing Capacity To 1 GW By Fiscal 2026: CEO

Greenzo Energy India Ltd., the country's only indigenous electrolyser manufacturer, plans to ramp up its alkaline electrolyser manufacturing capacity to 1 gigawatt from 250 megawatts at present by fiscal 2026, according to founder and Chief Executive Sandeep Agarwal.

The capacity will be further raised to 2 gigawatts by the financial year 2028, he said.

Greenzo sees strong potential in the green hydrogen production space, as companies across sectors have announced plans to reduce carbon footprints in alignment with India's net zero targets.

“There is potential for 20 GW of hydrogen production in the country valued at $20 billion; we expect to cash in on the drive with our cost-competitive indigenous electrolysers,” Agarwal said.

There are several companies in the country that have announced plans to produce green hydrogen and green ammonia but have faced execution-related challenges due to a shortage of electrolysers, Agarwal said. “Our electrolysers are customised to the Indian environment and can operate between -20 degrees and 60 degrees celsius, unlike electrolysers imported from China, South Korea, or Germany,” he said.

“Cost-wise also, these electrolysers are 20–40% cheaper compared to imported electrolysers (excluding China) since our alkaline electrolysers are based on mature technology that can last for 25 years and don't use any noble metals. The main components are steel and nickel, which are sourced domestically,” Agarwal said.

Ties With RBM Infra For 15 MW Green Hydrogen Projects

The company has tied up with RBM Infracon Ltd. for setting up 15 MW of green hydrogen facilities across Jamnagar, Kutch, and Bhuj at an investment of Rs 200 crore. As part of the agreement, Greenzo will ensure the design, development, engineering, procurement, and commissioning of the plants, while RBM Infracon will be the developer and look after the production and supply of green hydrogen to the off-takers.

“Each electrolyser unit can have a maximum capacity of 5 MW, which is the highest any manufacturer provides in India. The electrolyser stack can have 1 MW capacity as well to target small and medium-sized companies in and around the three cities where the land parcels have been acquired by RBM Infracon,” said Agarwal. With this project, the company's order book now stands at Rs. 1,400 crore.

The project is slated to commence in the fourth quarter of fiscal 2025 and will be implemented in phases over an 18-month period. The first phase will commence in Jamnagar, followed by expansion into Kutch and Bhuj based on market demand, JB Mani, managing director of RBM Infracon, said.

The price of green hydrogen produced is expected to be in the range of Rs 400/kg, which is much lower than the prevalent rates of Rs 500-700/kg in the market, Mani said.