Gensol Engineering Limited and Matrix Gas & Renewables Limited have announced a partnership to develop India’s first Green Hydrogen Valley in Pune, Maharashtra.
The project, revealed today, will supply green hydrogen to the specialty chemical industry around the clock for the next 20 years.
At 10:15 am today, shares of Gensol Engineering Limited were trading at ₹932, up ₹23.65 or 2.60 per cent on the NSE.
The project, facilitated by the National Chemicals Laboratories (NCL) in the Kurkumbh region, will be set up on a Build Own and Operate (BOO) model. Gensol and Matrix were selected through a competitive tender as the best bidder, both technically and commercially.
Anmol Jaggi, Managing Director of Gensol Engineering Ltd, emphasized the project’s significance in developing India’s green hydrogen economy. Chirag Kotecha, Whole-time Director at Matrix Gas and Renewables Ltd, highlighted their commitment to India’s net-zero targets and the National Green Hydrogen Mission.
This collaboration aligns with the Government of India’s efforts to promote Hydrogen Valleys through the Department of Science & Technology (DST). The project is expected to contribute to the establishment of green hydrogen generation concepts, applications, and R&D facilities in the country.