India's Hero Future Energies (HFE) and US based Ohmium International say they will jointly develop and build 1 GW of green hydrogen production facilities in the UK, Europe and India.
The strategic partnership will have both the companies pooling in their respective experience—HFE as a solar, wind and hybrid/battery energy storage system (BESS) developer and Ohmium as PEM Electrolyzer company—to realize this capacity.
While Ohmium will design, construct, operate and maintain the hydrogen production facilities as part of the deal, HFE will build-operate-own (BOO) green energy generating facilities to power the production facilities and assume ownership of the assets.
Ohmium already has an electrolyzer production facility in India's Bengaluru from where it shipped its 1st unit to the US through the Indian subsidiary in November 2021.
Believing green hydrogen to be a potential game changer especially when it comes to decarbonize hard-to-abate sectors, HFE's Global CEO Srivatsan Iyer said the partnership will enable the company to expand its international footprint and penetrate newer markets.
Part of diversified Indian business house Hero Group with automotive manufacturing as its flagship business interest, HFE has commissioned 1.7 GW of wind and solar energy assets to date with another 1.5 GW under construction or planned.
Under its National Green Hydrogen Energy Mission, India is targeting close to 1 million tons of annual green hydrogen production by 2030 which should be ably supported by the national renewable energy ambition of 500 GW by the same year (see India Goes For Net Zero By 2070).
Another business group from India, Reliance Industries Limited (RIL) has already announced its plans to establish electrolyzer gigafactory in Gujarat for which it estimates about 3 GW to 3.5 GW of solar energy to produce 400,000 tons annually (see Indian PV News Snippets).