The Gujarat government signed a memorandum of understanding (MoU) with Ocior Energy India Private Limited for the production of green hydrogen and green ammonia with Rs 400 billion investment. According to this MoU, Ocior Energy will invest its funds to establish a facility capable of producing 1 million tonnes of green hydrogen and ammonia annually in Gujarat’s Kutch district. The renewable energy project will be operational in two phases by 2030 and will help in creating nearly 10,400 direct and indirect job opportunities.
Ocior, founded in the Abu Dhabi Global Market in the United Arab Emirates is a pioneer in the field of green hydrogen and green ammonia. The company intends to develop 4 GW capacity green hydrogen and green ammonia projects across India, the Middle East, and North Africa.
In December 2022, Greenzo Energy India Limited will invest $50 million in the Sanand-II Industrial Estate, a part of Gujarat Industrial Development Corporation (GIDC) to build a plant for manufacturing electrolysers. The Real Time Accelerator Fund has committed to investing $1 million in the company.