Ayana, Greenstat Partner to Develop Green Hydrogen Projects in India; To Launch Pilot Project in Karnataka
With an aim to support India’s National Hydrogen Mission, National Investment and Infrastructure Fund (NIIF) backed Ayana Renewable Power (Ayana) and Norway-based Greenstat ASA’s subsidiary Greenstat Hydrogen India, have entered into a Joint Development Agreement (JDA) for the development of green hydrogen projects powered by renewable energy in India.
May 02, 2022. By Manu Tayal
Under this partnership, the two organisations would be developing large-scale green hydrogen solutions, to provide a long-term supply of green hydrogen to industrial and commercial customers in India. Initially, the two companies would be launching a pilot project in Karnataka.
Bangalore-headquartered Ayana Renewable said in a statement that this partnership would make India a global hub for the production, and export of green hydrogen.
Commenting on the development, Shivanand Nimbargi, CEO & MD, Ayana, said “By 2050, India aims to produce three fourth of its hydrogen from the renewable energy source. Ayana and Greenstat being specialists in their respective domains, carry the right expertise to facilitate this growth.”
“It is with great joy and expectations that Greenstat looks forward to a long-term and fruitful collaboration with Ayana. Together, we strongly believe that strong measures are needed to succeed in the transition from fossil to renewable energy, and green hydrogen molecules will be a key factor in the energy transformation. We strongly believe that cooperation between our companies will have significant contribution to this green shift,” said Sturle Pedersen, Chairman of Greenstat Hydrogen India.
Ayana is a majority-owned company of NIIF, while British International Investment (formerly CDC Group), the UK’s development finance institution, and EverSource Capital managed Green Growth Equity Fund (GGEF) are other shareholders in the platform.
The company develops utility-scale solar, wind and renewable energy (RE) hybrid projects across India. It is currently involved in the development and management of over 3.59 GWac of solar, wind and hybrid power projects across several Indian states and has an operational capacity of 1.19 GWac of renewable energy projects in Andhra Pradesh, Karnataka and Rajasthan.
Greenstat Hydrogen India is part of The Greenstat Group, a Norwegian Green Energy and Technology company with its HQ in Bergen, Norway established in 2015 and has an ambition of becoming the green Statoil.
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