ReNew proposes to invest Rs 26,400 crore for Green Hydrogen Project in Kerala
GURUGRAM : ReNew, a Nasdaq-listed decarbonisation firm, has proposed a total investment of Rs 26,400 crore for a Green Hydrogen Project with 220-kilo-tonnes-per-annum (KTPA) of green hydrogen production capacity in Kerala.
This green hydrogen capacity will be used to produce 1,100 KTPA of green ammonia. The project will be powered by a 2 GW capacity electrolyser, which is 14,000 million units of power annually from 5 GW to 6 GW renewable energy plants, according to an official close to the development. The company did not respond to an email from seeking comments on the project.
The green hydrogen project is proposed to be set up at Vizhinjam near its port to make the green hydrogen produced suitable for export. It is proposed to be completed in three phases – phase-1 will have 100 KTPA of green hydrogen derivative capacity, while phase-2 and phase-3 will have 500 KTPA capacity each. The timeline of each phase is estimated to be 36 to 42 months.
The investment amount of Rs 26,400 crore which has been proposed by the company is excluding the renewable energy captive generation facility.
About 50 million litres of water per day will be required by the project. It is estimated to employ 4,000 to 5,000 skilled and unskilled staff and 18,000 staff during the construction phase.
The company, in November 2022, has also signed a framework agreement with Egypt to set up a green hydrogen plant in the Suez Canal Economic Zone with an investment of $8 billion.
Under the National Green Hydrogen Mission, India aims to set up 5 MTPA green hydrogen production capacity by 2030 and promote exports of green hydrogen and its derivatives.
Green hydrogen production involves zero carbon emission, thus a preferred way to decarbonize hard-to-abate sectors, which are intensively using hydrogen.
Currently about 93 per cent of the hydrogen consumption happens in refineries and fertilisers. By 2030, hydrogen is projected to be used extensively in steel, mobility, and fuel blending.