ReNew, a decarbonization company listed on Nasdaq, is putting forward an investment plan amounting to Rs 26,400 crore for the establishment of a green hydrogen project in Kerala. The project aims to achieve a green hydrogen production capacity of 220 kilo-tonnes per annum.
ReNew is one of the leading renewable energy companies in India, specializing in clean and sustainable power solutions. The company focuses on wind, hydroelectric, and solar projects, contributing to India’s green energy transition.
The green hydrogen capacity is intended for the production of 1,100 KTPA of green ammonia. A 2 GW electrolyzer will drive the project, drawing 14,000 million units of power annually from renewable energy plants ranging between 5 GW and 6 GW.
The proposition for the establishment of a green hydrogen project at Vizhinjam, situated near its port, aims to render the produced green hydrogen suitable for export. The project is divided into three phases, with the initial phase targeting a green hydrogen derivative capacity of 100 KTPA.
Subsequent phases, namely phase-2 and phase-3, are intended to scale up the capacity to 500 KTPA each. The projected timeline for the completion of each phase falls within the range of 36 to 42 months. The company has put forth a proposed investment of Rs 26,400 crore, excluding the renewable energy captive generation facility.
The project is anticipated to necessitate approximately 50 million liters of water daily. In terms of manpower, it is projected to engage a workforce ranging from 4,000 to 5,000 individuals with diverse skill sets, and during the construction phase, the staffing level is expected to reach 18,000 personnel.
In November 2022, the company entered into a framework agreement with Egypt for the establishment of a green hydrogen facility within the Suez Canal Economic Zone, involving an investment of $8 billion.
India’s National Green Hydrogen Mission has set a target to establish a green hydrogen production capacity of 5 million metric tons per annum (MTPA) by 2030, with a focus on promoting the export of green hydrogen and its derivatives.
Currently, the majority of hydrogen consumption, accounting for 93 percent, occurs in refineries and fertilizer production. However, by 2030, there is a projected shift towards extensive utilization of hydrogen in sectors such as steel manufacturing, transportation, and fuel blending.
