PTC India and Greenstat Hydrogen India (a subsidiary of Norwegian energy company Greenstat ASA) have entered into a Memorandum of Understanding (MoU) for joint development of green hydrogen solutions for the beneficiaries of the Indian electricity market.
Under the MoU, both PTC and Greenstat will jointly work towards the development of green hydrogen projects in India. Areas of development will include feasibility studies and/or project management services for green hydrogen solutions. These companies will also work towards identifying opportunities for development of a ‘Centre of Excellence’ to facilitate green hydrogen in the country.
“Green hydrogen has great potential to sustainably meet the energy demands of the future and also support the transition to a net-zero economy. Under this association, PTC and Greenstat will play a key role in driving its adoption in the country.”
Commenting on the collaboration, Sturl Pedersen, President, Greenstat Hydrogen India, said: “Greenstat and PTC have a good synergy. Greenstat looks forward to a long-term and fruitful cooperation and together we firmly believe that many innovative initiatives will be implemented to succeed in the transition from fossil to renewable energy. Green hydrogen will be an important factor in the energy transition.”
“We strongly believe that the collaboration between our companies will make a significant contribution towards meeting India’s net-zero commitments and executing the strategy of ‘Panchamrut’ or ‘Five Amrits’,” he added.