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John Cockerill and Greenko to invest Rs 28 billion in electrolyser facility
Industry News- Sep 10,24
Michel stated the plant will have an annual capacity of producing 2 gigawatts of electrolysers, which are essential for producing green hydrogen by splitting water into oxygen and hydrogen using renewable energy.
John Cockerill Group and its Indian partner, Greenko Group, will invest up to Rs 28 billion in setting up an electrolyser manufacturing facility in Kakinada, Andhra Pradesh. The Belgium-based engineering company's CEO, Francois Michel, revealed the facility aims to be the world's lowest-cost electrolyser manufacturer, with plans to use the India plant as an export hub.
Michel stated the plant will have an annual capacity of producing 2 gigawatts of electrolysers, which are essential for producing green hydrogen by splitting water into oxygen and hydrogen using renewable energy. He added that this will be the largest investment globally for producing green ammonia and aims to become the cheapest production base.
John Cockerill and Greenko entered a partnership in March 2022 to develop the green hydrogen market in India. In January 2024, their joint venture, John Cockerill Greenko Hydrogen, won a production-linked incentive for 300 MW of electrolysers annually, securing Rs 4.44 billion in incentives.
India, which currently relies on global markets for its green hydrogen projects, is looking to reduce costs through local production. John Cockerill aims to make the country an export hub for electrolyser components, with West Asia being a key target market.
In addition to its focus on energy, John Cockerill plans to expand its operations into steel and defence in India, intending to triple its workforce to over 2,000 employees within two years. The company views India as a strategic hub for growth, particularly in critical sectors like energy, defence, and steel.
Michel noted that the ongoing investments in India's steel sector, particularly in specialised steel for the electric vehicle market, align with John Cockerill's technological expertise. The company is committed to supporting decarbonization efforts in hard-to-abate industries like steel as they work toward net-zero targets.
(TOI)
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