ACME Group, a diversified renewable energy firm, and IGL, a city gas distribution company, have signed an initial pact to jointly explore potential business opportunities in green hydrogen.
The memorandum of understanding (MoU) was signed by Ashwani Dudeja, President & Director of Green Hydrogen and Ammonia at ACME, and Sanjeev Kumar Bhatia, Vice President of Business Development & Gas Sourcing at IGL.
The primary objective of the agreement is to collaborate on the exploration of green hydrogen generation and supply opportunities in India. The two companies will work together to set up hydrogen generation plants, including the installation of electrolyzers for blending green hydrogen into IGL’s existing pipeline networks, which supply gas to households, industrial & commercial set-ups, and CNG for vehicles.
Green hydrogen is generated through the electrolysis of water using electricity generated from renewable sources, such as solar or wind power. The resulting hydrogen gas is a clean and sustainable fuel that can be used in a variety of applications, including transportation, power generation, and industrial processes.
The partnership between ACME and IGL holds enormous potential for the development of green hydrogen infrastructure in India, as the country seeks to increase its use of clean energy sources and reduce its dependence on fossil fuels. According to a report by the International Energy Agency, India has the potential to become a global leader in renewable energy, with solar and wind power accounting for 44% of the country’s electricity generation by 2050.
However, the adoption of green hydrogen in India faces several challenges, including high costs, lack of infrastructure, and the need for significant investments in research and development. As such, the success of the ACME-IGL partnership will depend on their ability to overcome these obstacles and develop a sustainable business model for green hydrogen production and distribution.
In conclusion, the collaboration between ACME and IGL marks an important step in the development of green hydrogen infrastructure in India. While significant challenges remain, the potential benefits of widespread adoption of green hydrogen make it a critical area for investment and innovation in the coming years.
