Hero Future Energies and Ohmium International on Thursday announced a strategic partnership to build 1,000 MW of green hydrogen production facilities in India, the UK and Europe. While Hero Future will assume the overall ownership of the assets, Ohmium will be responsible for the design, construction, and operations and maintenance of the facilities. Hero Future will also supply renewable energy to produce green hydrogen. The financial details of the tie-up were not disclosed.
The development comes at a time when the government is planning to come up with a PLI scheme for setting up electrolyser manufacturing capacities to expedite the uptake of green hydrogen. Electrolysers are used to make green hydrogen using electricity generated from renewable sources. Prime Minister Narendra Modi had on August 15 last year announced the National Hydrogen Mission as the government explores ways to reduce dependence on imported products such as crude oil and natural gas.
“This is a forward-looking partnership which is perfectly aligned with Hero Future Energies’ vision as an integrated energy transition solutions provider,” Srivatsan Iyer, Global CEO of Hero Future Energies said, adding that “it will enable us to expand our international footprint as we penetrate new markets”. Hero Future Energies is a part of the Munjal family’s Hero Group. Its current portfolio includes 1,700 MW of commissioned wind and solar power projects with an additional 1,500 MW under various stages of implementation.
The country currently consumes about around 6 million tonne of hydrogen annually and the government is looking for ways to increase the penetration of domestic green hydrogen in industries which otherwise import natural gas and ammonia to produce hydrogen. The Union ministry on new and renewable energy has already circulated the draft ‘National Hydrogen Energy Mission’ document for inter-ministerial consultation, aiming to create a hydrogen value-chain in the country and bring down the costs of hydrogen production.