Greenko ZeroC (GZC), a subsidiary of Greenko Group, an Indian clean-tech company, and John Cockerill, a Belgium-based manufacturer of high-capacity alkaline electrolysers, have agreed to a 50:50 joint venture to set up a green hydrogen electrolyser factory in the Indian-subcontinent. The two companies will build a hydrogen electrolyser gigafactory with a capacity of 2 GW which is aimed at substituting 8 per cent of India’s LNG imports. The facility is expected to come up on the east coast with a planned $500 million investment.
The gigafactory will comprise the entire electrolyser production value chain, including state-of-the-art nickel coating, and will produce electrolysers capable of delivering hydrogen at the highest purity level. Greenko’s aim is to provide green hydrogen and related green chemicals at a cost that is competitive globally.
Earlier this month, Greenko Wind raised $750 million for an energy storage plant in Andhra Pradesh through a global bond offering. Following the start of roadshows, the company was able to secure pricing of 5.50 per cent for its green bond offering. Greenko Wind Projects (Mauritius) or GWPML, an indirect subsidiary of Greenko Energy Holdings, raised the bonds, which were given a ‘BB’ rating by global rating agency Fitch Ratings.