Renew, a decarbonisation company listed on Nasdaq, has suggested investing Rs 26,400 crore in a green hydrogen project in Kerala. The project aims to produce 220 kilo-tonnes-per-annum (KTPA) of green hydrogen.
The green hydrogen capacity will be used to create 1,100 KTPA of green ammonia. The project will be powered by a 2 GW electrolyser, which will receive power from renewable energy plants generating 5 GW to 6 GW annually.
ReNew Power’s green hydrogen project will be set up at Vizhinjam, near its port, with the aim of producing green hydrogen for export. The project will be completed in three phases, with phase 1 having a capacity of 100 KTPA of green hydrogen derivative, and phases 2 and 3 each having a capacity of 500 KTPA. The estimated timeline for each phase is 36 to 42 months.
The proposed investment by the company, amounting to Rs 26,400 crore, does not include the renewable energy captive generation facility.
The project will need approximately 50 million liters of water daily and is expected to hire 4,000 to 5,000 skilled and unskilled workers, with a total of 18,000 workers during the construction period.
India plans to establish a 5 MTPA green hydrogen production capacity by 2030 and encourage the export of green hydrogen and its by-products under the National Green Hydrogen Mission. Green hydrogen production is a desirable method for reducing carbon emissions in industries that heavily rely on hydrogen.
At present, the majority of hydrogen is used in refineries and fertilizers, accounting for approximately 93% of its consumption. However, by 2030, hydrogen is expected to be significantly utilized in industries such as steel production, transportation, and fuel blending.
Reference- Press Information Bureau, Economic Times, Mercom India, ReNew Power website