GreenZo Energy plans Rs 400 cr investment to set up electrolyzer factory

GreenZo Energy on Wednesday said it is planning to invest up to Rs 400 crore to set up a 250 MW electrolyzer factory. The company will also spend Rs 70 crore on the RD Research Development for the production of the green hydrogen electrolyzer in 2022-23, the company said.In a statement, the company said, It plans to set up a 250 MW electrolyzer factory, which would consume an investment of Rs 3-4 billion by the end of 2025.

GreenZo Energy on Wednesday said it is planning to invest up to Rs 400 crore to set up a 250 MW electrolyzer factory.

The company will also spend Rs 70 crore on R&D (Research & Development) for the production of the green hydrogen electrolyzer in 2022-23, the company said.

In a statement, the company said, ''It plans to set up a 250 MW electrolyzer factory, which would consume an investment of Rs 3-4 billion by the end of 2025. This will ensure the availability of end-to-end solutions within the country and cut down dependence on imports for this key equipment. Local production of electrolyzers is crucial to bringing the cost of green hydrogen to USD 1-2 per kilogram by 2030''.

Sandeep Agarwal, Founder, and Chairman of GreenZo Energy said the company will invest over Rs 70 million on the R&D department on technology for the production of the green hydrogen electrolyzer in 2022-23. The statement did not provide any further information related to the location of the plant.

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