Waaree Energies’ wholly owned subsidiary Waaree Clean Energy Solutions has signed Electrolyzer as a Service Agreement (EAAS) for 2.5 MW Electrolyzer for Zero Footprint Industries (ZFI) for ZFI’s green hydrogen expansion in Uttar Pradesh.
The two companies have also entered into a strategic memorandum of understanding to supply up to 50 MW of electrolyzers through the EAAS route for multiple decentralised green hydrogen projects across northern India.
Waaree to supply green hydrogen to ZFI under 15-year EAAS agreement
Under the agreement, Waaree Clean Energy Solutions will design, engineer, supply, install, commission, own and operate a 2.5 MW alkaline electrolyzer system for ZFI.
The system will be manufactured at Waaree’s Dungri plant in Gujarat and will supply green hydrogen and green oxygen to ZFI under a long-term contract of 15 years. The project aims to produce around 41 lakh Nm3 of green hydrogen and about 20 lakh Nm3 of green oxygen annually.
The output will largely cater to ZFI’s existing customers in sectors such as mentha oil, chemicals, steel and Pharma help these industries shift from grey hydrogen to green hydrogen in a cost-neutral manner, where feasible.
Capacity to scale up sharply over five years
The first project under the EAAS agreement will follow a fast-track execution timeline of about seven months, which the companies claim could be among the fastest globally.
Delivery of the electrolyzer stack is scheduled for the second quarter of FY27, while commercial operations are expected to begin in the third quarter of FY27.
Over the next five years, the partnership aims to scale capacity from 500 cubic metres per hour to nearly 10,000 cubic metres per hour across multiple locations.
Green hydrogen to power industry and inland transport
The green hydrogen produced under the agreement will be powered by renewable energy and used for decarbonising industrial processes as well as inland transport applications such as road, rail and waterways.
The companies said the decentralised model would allow faster deployment, better reliability and improved energy efficiency.
The project is supported by the Uttar Pradesh New & Renewable Development Agency under the state’s Green Hydrogen Policy 2024. It also aligns with India’s National Green Hydrogen Mission, which targets green hydrogen production of 5 million metric tonnes per annum.
About Zero Footprint Industries
ZFI is currently engaged in supplying green hydrogen, green oxygen and other industrial gases through integrated projects covering generation, purification, compression, storage and delivery. The company has already commissioned India’s first merchant green hydrogen plant of 250 cubic metres per hour in Uttar Pradesh.
About Waaree Clean Energy
Waaree Clean Energy Solutions is involved in manufacturing and selling electrolyzers and associated hydrogen generation systems, along with construction, installation, operation and maintenance services in India.
Waree Energies share price
The share price of Waaree Energies closed in green on Monday at Rs 2917.10, gaining 0.78% from the previous close.
Waaree Energies’ wholly owned subsidiary Waaree Clean Energy Solutions has signed Electrolyzer as a Service Agreement (EAAS) for 2.5 MW Electrolyzer for Zero Footprint Industries (ZFI) for ZFI’s green hydrogen expansion in Uttar Pradesh.
The two companies have also entered into a strategic memorandum of understanding to supply up to 50 MW of electrolyzers through the EAAS route for multiple decentralised green hydrogen projects across northern India.
Waaree to supply green hydrogen to ZFI under 15-year EAAS agreement
Under the agreement, Waaree Clean Energy Solutions will design, engineer, supply, install, commission, own and operate a 2.5 MW alkaline electrolyzer system for ZFI.
The system will be manufactured at Waaree’s Dungri plant in Gujarat and will supply green hydrogen and green oxygen to ZFI under a long-term contract of 15 years. The project aims to produce around 41 lakh Nm3 of green hydrogen and about 20 lakh Nm3 of green oxygen annually.
The output will largely cater to ZFI’s existing customers in sectors such as mentha oil, chemicals, steel and Pharma help these industries shift from grey hydrogen to green hydrogen in a cost-neutral manner, where feasible.
Capacity to scale up sharply over five years
The first project under the EAAS agreement will follow a fast-track execution timeline of about seven months, which the companies claim could be among the fastest globally.
Delivery of the electrolyzer stack is scheduled for the second quarter of FY27, while commercial operations are expected to begin in the third quarter of FY27.
Over the next five years, the partnership aims to scale capacity from 500 cubic metres per hour to nearly 10,000 cubic metres per hour across multiple locations.
Green hydrogen to power industry and inland transport
The green hydrogen produced under the agreement will be powered by renewable energy and used for decarbonising industrial processes as well as inland transport applications such as road, rail and waterways.
The companies said the decentralised model would allow faster deployment, better reliability and improved energy efficiency.
The project is supported by the Uttar Pradesh New & Renewable Development Agency under the state’s Green Hydrogen Policy 2024. It also aligns with India’s National Green Hydrogen Mission, which targets green hydrogen production of 5 million metric tonnes per annum.
About Zero Footprint Industries
ZFI is currently engaged in supplying green hydrogen, green oxygen and other industrial gases through integrated projects covering generation, purification, compression, storage and delivery. The company has already commissioned India’s first merchant green hydrogen plant of 250 cubic metres per hour in Uttar Pradesh.
About Waaree Clean Energy
Waaree Clean Energy Solutions is involved in manufacturing and selling electrolyzers and associated hydrogen generation systems, along with construction, installation, operation and maintenance services in India.
Waree Energies share price
The share price of Waaree Energies closed in green on Monday at Rs 2917.10, gaining 0.78% from the previous close.