Greenko Group, a cleantech firm based in Hyderabad, has inked an agreement with John Cockerill, a Belgian manufacturer of alkaline electrolysers, to jointly develop market initiatives for green hydrogen electrolysers in India. According to the reports, partnership will facilitate the production of the lowest-cost green hydrogen by enabling supply of electrolysers at scale in India, within the next year.
In addition, Greenko signed the agreement through its subsidiary Greenko ZeroC (GZC). GZC and John Cockerill are expected to collaborate in all spheres of market evolution for green hydrogen electrolysers, which converts clean energy into carbon free hydrogen. Greenko also plans to build green ammonia export facilities in India that can produce up to one metric tonne per annum (mtpa) by 2025, requiring roughly 2 GW of electrolyser capacity. While John Cockerill is working on the world’s largest electrolysers, with a capacity of over 6 MW, as well as manufacturing facilities around the world.
In March 2021, Japanese financial services company, Orix Corporation reported the completion of the acquisition of a 21.8 per cent stake in Greenko Energy Holdings for about $961 million. As per the agreement, Orix will also add 873 MW of its wind energy portfolio in India into Greenko’s portfolio in exchange for the shares. The company has also integrated its entire wind power generation business in India into Greenko to acquire additional shares. The acquisition was proposed in September 2020 when Orix had announced when it had signed a framework agreement with Greenko Energy Holdings to acquire approximately 20 per cent of its shares for about $980 million.