ReNew, a Nasdaq-listed producer of decarbonization solutions, intends to make a significant entry into the green hydrogen market.
Sumant Sinha, the chairman and chief executive officer of the company, has stated that ReNew intends to spend extensively in the production of green hydrogen and that the company is sure that green hydrogen will play a crucial part in India’s energy transformation.
Hydrogen and oxygen are separated from water molecules using sustainable energy sources like solar and wind power to create green hydrogen. A range of devices, including cars, power plants, and industrial operations, can run on green hydrogen, a clean and sustainable fuel.
With more than 10 gigawatts of existing or developing renewable energy capacity, ReNew is already a significant player in the Indian renewable energy market. The company’s debut into the green hydrogen market is viewed as a move in the right direction because it would increase India’s capacity to produce green hydrogen and hasten the country’s transition to a clean energy future.
ReNew’s foray into the green hydrogen market is a move in the right direction for India. By investing in green hydrogen, ReNew hopes to increase India’s capacity to produce it, hasten the country’s transition to a clean energy future, and generate employment.