GreenZo Energy on Wednesday said it is planning to invest up to Rs 400 crore to set up a 250 MW electrolyser factory. The company will also spend Rs 70 crore on the R&D (Research & Development) for the production of the green hydrogen electrolyzer in 2022-23, the company said.
In a statement, the company said, “It plans to set up a 250 MW electrolyser factory, which would consume an investment of Rs 3-4 billion by the end of 2025. This will ensure the availability of end-to-end solutions within the country and cut down dependence on imports for this key equipment. Local production of electrolysers is crucial to bringing the cost of green hydrogen to USD 1-2 per kilogram by 2030”.
