Bharat Heavy Electricals Ltd. (BHEL) and GREENSTAT Hydrogen India Pvt. Ltd. have taken a meaningful step towards promoting green hydrogen and its derivatives in India.
Signing a Memorandum of Understanding (MoU) between the two entities opens up potential collaboration opportunities in the Hydrogen Value Chain, aligning with the Government of India’s ‘National Hydrogen Mission.’ This strategic partnership is expected to play a pivotal role in making India self-reliant in hydrogen-based technologies.
Sh. S Prabhakar, GM & Head (Coal to Chemicals) from BHEL, and Mr. Sturle Harald Pedersen, Chairman of GREENSTAT Hydrogen India Pvt. Ltd., inked the MoU, setting the stage for an exciting journey of collaboration and innovation. The signing ceremony witnessed the presence of key dignitaries, including Sh. Upinder Singh Matharu, Director (Power) – BHEL, Sh. Jai Prakash Srivastava, Director (ER&D) & Director (Finance) – Additional Charge – BHEL, and Sh. Jeewan Prakash Gupta, MD of GREENSTAT Hydrogen India Pvt. Ltd., along with other senior officials from BHEL.
Aligning with India’s ‘Atmanirbhar’ Vision
The collaboration between BHEL and GREENSTAT Hydrogen comes at a crucial juncture when India is actively pursuing clean and sustainable energy solutions. As part of the ‘National Hydrogen Mission,’ the country aims to leverage hydrogen’s potential to achieve energy security, reduce carbon emissions, and foster economic growth. By joining forces, BHEL and GREENSTAT Hydrogen aim to contribute significantly to India’s journey toward becoming self-reliant in the hydrogen sector.
The Power of Green Hydrogen
Green hydrogen, produced through electrolysis using renewable energy sources like wind and solar power, holds immense promise in the decarbonization of various industries. It can serve as a clean fuel for power generation, transportation, and industrial processes, reducing greenhouse gas emissions and combating climate change. Embracing green hydrogen technology can also drive innovation, create jobs, and strengthen India’s position in the global clean energy landscape.
Advancing India’s Green Energy Ambitions
The collaboration between BHEL and GREENSTAT Hydrogen is expected to accelerate research and development in the hydrogen value chain. By exploring green hydrogen production, storage, and distribution technologies, the partnership can unlock the potential for a sustainable energy future in India. Furthermore, this strategic alliance may attract investments, encourage technology transfer, and foster cross-sector partnerships, creating a thriving ecosystem for green hydrogen in the country.
Market Response and Future Prospects
Following the MoU signing, BHEL’s share prices experienced fluctuations in the Bombay Stock Exchange (BSE), reaching an intraday high of Rs. 103.10 and a low of Rs. 98.60. The total number of shares traded during the day was 2,523,239 in over 11,917 trades, with a net turnover of Rs. 254,801,324.00. The market’s response reflects the investors’ interest in the potential growth opportunities arising from this strategic collaboration.
