Thursday 19 September 2024
Hydrogen developer Hygenco has received $280 million (£211 million) in funding for its green ammonia project in Gopalpur, Odisha in Eastern India.
Hygenco hopes to invest and raise a total of $2.5 billion (£1.8 billion) in green hydrogen and green ammonia projects across India, in the next few years.
Hygenco has so far commissioned India's first commercial green hydrogen plant in Hisar, Haryana, North India.
In 2022, Hygenco also signed India's first-ever commercial long-term offtake agreement of green hydrogen for the Hisar project.
Amit Bansal, Co-Founder and Chief Executive Officer of Hygenco, said: 'We are committed to energy security and aligning with the Indian government's vision of Aatmanirbhar Bharat (self-reliant India). Our projects will help reduce carbon emissions and pave the way for a sustainable future.'