Delhi-based Greenjo Energy announced its plan on Wednesday 400 crores for setting up a 250 MW electrolyzer factory. The company will make additional investments in R&D for green hydrogen electrolyser production in the current financial year.
In addition, GreenJo will invest 70 crore in R&D (R&D) for the production of green hydrogen Electrolyzer in the financial year FY23.
GreenZoe said in a statement that it plans to set up a 250 MW electrolyser factory, which will consume the investment According to the PTI report, 3-4 billion by the end of 2025.
According to Greenjoe, the investment will ensure availability of end-to-end solutions within the country and reduce dependence on imports for this flagship equipment.
“Local production of electrolyzers is critical to bringing the cost of green hydrogen to $1-2 per kilogram by 2030,” it added.