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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.
MoU signing Ceremony
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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