Hygenco signs offtake agreement with Jindal Stainless Limited

Global leader in deploying green hydrogen solutions, Hygenco India Private Limited, signed India’s first long-term off-take agreement with Jindal Stainless Limited (JSL), one of the largest stainless-steel conglomerates globally.

Hygenco signs offtake agreement with Jindal Stainless Limited
Hygenco signs offtake agreement with Jindal Stainless Limited

Gurugram: Global leader in deploying green hydrogen solutions, Hygenco India Private Limited, signed India’s first long-term off-take agreement with Jindal Stainless Limited (JSL), one of the largest stainless-steel conglomerates globally. The first of its kind off-take agreement in India will see Hygenco Build-Own-Operate the Green Hydrogen facility for 20 years.

 It will also become the first multi-megawatt scale plant with long-term offtake in Asia to be commissioned in the next 12 months. 
 
The large-scale adoption and scale-up of Green Hydrogen across industries will be vital for India, which is significantly dependent on imports for its energy needs. This will provide a significant push to the Government’s ambitious National Hydrogen Mission, which envisages the production of five million tonnes of green hydrogen by 2030. 
 
The Green Hydrogen plant will help in reducing JSL’s annual carbon emissions by about 2,700 Metric Tonnes per year, enabling decarbonization and pushing sustainable development.  Hygenco is aiming to deploy more than USD 300 million in Green Hydrogen projects across the country in the next 3 years.
 
Amit Bansal, CEO of Hygenco, said that “This is one of the most significant landmarks for the Hydrogen industry in India and globally as it demonstrates the competitiveness and cost-efficiency of Green Hydrogen. We are honoured to partner with one of the largest conglomerates globally and help in the decarbonization of steel production, one of the most energy-intensive industries.”  
 
Hygenco has deep capabilities in designing, building, and operating Green Hydrogen projects. The state-of-the-art and fully autonomous plant will be controlled by an advanced Energy Management and Control System. The system monitors several parameters including hydrogen generation, renewable energy generation, states of charge, pressure, temperature and makes autonomous real-time decisions for achieving high efficiency. The technology enables the company to augment the hydrogen yield and deliver cost-competitive hydrogen to the end clients. 
 
About Hygenco
 
Headquartered in India, Hygenco is a global pioneer deploying Green Hydrogen and Green Ammonia-powered industry solutions. Hygenco develops and deploys scaled-up commercially attractive Green Hydrogen and Green Ammonia assets

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