Engineering and consulting firm Gensol Engineering has emerged as the winning bidder for a 237 MW hydrogen electrolyzer manufacturing capacity under the Production Linked Incentive (PLI) program in collaboration with Matrix Gas & Renewables, a natural gas aggregator and hydrogen infrastructure developer.

This capacity was secured through a competitive tender by the Solar Energy Corporation of India (SECI).

The Gensol-Matrix consortium has secured a cumulative 300 MW capacity, including a prior 63 MW awarded in the first tranche of the SECI tender. This equates to a total incentive of ₹4.5 billion (~$53.6 million) under the PLI program.

The Ministry of New and Renewable Energy has allotted ₹44.4 billion (~$535.6 million) to incentivize electrolyzer manufacturing to reduce hydrogen production costs as part of the National Green Hydrogen Mission (NGHM).

Last January, the Union Cabinet approved NGHM to facilitate demand creation, production, utilization, and export of green hydrogen, with an initial outlay of ₹197.44 billion (~$2.3 billion).

Electrolyzers are a crucial component for producing green hydrogen and its derivatives. India has set a target of producing 5 million metric tons of green hydrogen annually by 2030.

Anmol Jaggi, Managing Director of Gensol Engineering, said, “Winning this PLI capacity under the National Green Hydrogen Mission is a testament to our commitment and technical capabilities. It not only strengthens our position in the green hydrogen sector but also opens up new avenues for growth and collaboration in renewable energy.”

Chirag Kotecha, Whole-time Director at Matrix Gas and Renewables, said, “Winning the PLI bid for this prestigious project amidst stiff competition from major conglomerates highlights our technological expertise and manufacturing experience as Gensol – Matrix consortium. Electrolyzer manufacturing initiative is central to our strategy for large-scale decarbonization through green hydrogen, aligning with our vision of establishing India as a leader in sustainable, low-carbon energy.”

The Gensol-Matrix collaboration is expected to leverage both companies’ strengths in green hydrogen and its derivatives domain, including green steel and green ammonia.