Greenstat AS, Creates An Indian Subsidiary To Invest In Indian Hydrogen Market

Asia and the emerging economies are an incredibly exciting and attractive market for Greenstat AS which has great ambitions and growth plans in renewable energy in general, and the production of green hydrogen in particular.

Greenstat AS

Norwegian export profits have taken a sharp fall the last years, creating a need for new markets. So as an important part of the company’s international efforts, it has established the subsidiary Greenstat Hydrogen India PVT LTD in Delhi / India.

The Indian subsidiary has entered into agreements with large Indian companies and put together several consortia participating in tenders for planned demo/pilot-projects in India.

Vegard Frihammer, CEO Greenstat AS
Greenstat Hydrogen India sees big opportunities together with their partner in assuming an important position in the hydrogen market. The efforts in India will become a hub when further regional expansions are viable.

India is already known as a large producer and consumer of energy, and is also known to have significant problems with air pollution and large emissions in its urban areas. The main part of India’s energy consumption is based on fossil fuels (55.8% coal, 30% oil and gas).

However, Indian authorities have decided that they will take a lead role in hydrogen in the coming years, and create the right conditions for quick expansion and large investments by drawing on top class competence, experience and technology, thereby securing high growth and development of ecosystems and economies in India.

There are great opportunities for Norwegian companies like Greenstat who have technology and competence from renewable energy to assume a significant market position in this rapidly growing market.

India is about to invest a staggering 450 GW in renewable and hydrogen within 2030, with about 300 billion in annual investments in order to reach this goal. With ambitions on such a scale, it’s no secret that India can yield huge profits for Greenstat AS.

This is a Greenstat PR Feed; edited by Clean-Future Team