Gensol Engineering and Matrix Gas Win Major PLI Bid for Hydrogen Electrolyzers

Gensol Engineering, in partnership with Matrix Gas and Renewables, has secured a significant bid for 237 MW of annual electrolyzer manufacturing capacity under the government’s production-linked incentive (PLI) scheme.

This victory marks a substantial accomplishment for the consortium, which has now amassed a total capacity of 300 MW, following an earlier award of 63 MW in a previous round of tenders by the Solar Energy Corp. of India (SECI).

The recent success in securing the 237 MW capacity was achieved through competitive bidding in an auction held by SECI. These incentives, amounting to INR 450 crore, are part of the government’s initiative to bolster the green hydrogen industry.

Announced by the Ministry of New and Renewable Energy (MNRE), the PLI Scheme under the National Green Hydrogen Mission aims to significantly enhance India’s renewable energy landscape. Electrolyzers are essential for producing green hydrogen, a crucial element in India’s ambitious goal to generate 5 million metric tons of green hydrogen annually by 2030.

Gensol and Matrix, which share common promoters, plan to continue their collaboration in the green hydrogen domain. By leveraging their complementary expertise, they aim to play a pivotal role in advancing India’s renewable energy goals.