Browsing: Asia

Prasanta Sarkar made the decision to stay behind and work on a problem while on a lengthy backpacking trip through India. He joined Entrepreneur First and immediately clicked with Rochan Sinha. They jointly established Newtrace in 2020 to create a new category of “membrane-less” electrolyzers and to make a dent in the market for “green hydrogen,” which at the moment only accounts for a tiny fraction of the 6 to 7 million tonnes of hydrogen produced in the nation each year, all from fossil fuels.

The Greenko firm, which is constructing the largest pumped hydro storage facility in the world—1,680 MW—near Kurnool, Andhra Pradesh, for “upwards of a billion dollars,” aims to construct three other such facilities over the course of the following three years.

Together, the public sector oil refineries in India have the capacity to produce 137 ktpa of green hydrogen by 2030.

ReNew Energy Global and Engineers India are two Indian energy firms that have declared interest in looking into new green hydrogen business potential and energy projects in Africa and the Middle East, particularly Morocco.

The government has allayed worries over the exposure of the state-owned LIC’s investment in the Adani Group following the effect of the Hindenburg report on its stocks.

Uniper and Greenko Group signed a Memorandum of Understanding (MoU) and Heads of Terms to negotiate the exclusive offtake of green ammonia from Phase 1 of Greenko ZeroC’s ammonia manufacturing facility in Kakinada.

A formal agreement was made in Mumbai by Kris Peeters, Vice President of the European Investment Bank (EIB), the bank of the European Union, to join the India Hydrogen Alliance (IH2A) and increase support for large-scale green hydrogen hubs and projects throughout India with an indicative funding of EUR 1 billion, subject to Indian Government and EIB approvals.

73 hydrogen filling stations opened in Asia, and 11 in North America, in 2022, according to a review of 130 stations worldwide.

After Kalyani Steels became India’s first green steel production, all major Indian steel firms are transitioning to green steel but need inexpensive green electricity and hydrogen to make the move financially viable.

Indian Railways (IR) will spend $335 million on 35 new hydrogen trains that will travel over many of the country’s narrow-gauge “heritage” routes, making it the largest hydrogen train operator in the world.