Gensol Engineering And Matrix Gas & Renewables Secure India's First Green Hydrogen Valley Project

Gensol Engineering Limited, in partnership with Matrix Gas & Renewables Ltd., announced today that they have secured a major project to establish India's first Green Hydrogen Valley in Pune. Matrix Gas & Renewables, a growing green hydrogen infrastructure developer and natural gas aggregator, will work alongside Gensol to set up the hydrogen production plant. This facility will operate on a Build Own and Operate (BOO) model, supplying green hydrogen to the specialty chemical sector in Pune. The project comes with a 20-year firm offtake agreement, signalling a long-term commitment to green hydrogen production and utilization.

Anmol Jaggi, Managing Director of Gensol Engineering Ltd., expressed his pride in this achievement, stating, "We are extremely proud to be developing India's first Green Hydrogen Valley project. The Government of India, through its Department of Science & Technology (DST), has taken a significant step by promoting hydrogen valleys, and we are excited to contribute to the development of the green hydrogen economy. Our round-the-clock (RTC) supply of green hydrogen to the specialty chemical sector in Pune marks a pivotal moment in the growth of green energy in India."

Chirag Kotecha, Whole-time Director at Matrix Gas and Renewables Ltd., added, "We are committed to contribute to India's net-zero targets by achieving the key aspects of National Green Hydrogen Mission. This Green Hydrogen valley is being facilitated by National Chemicals Laboratories (NCL), Pune in Kurkumbh region. We will have an opportunity to establish such Green Hydrogen generation concepts, its applications and R&D facilities. We have been selected through competitive tender as the best bidder (both Technically and Commercially) to setup a Green Hydrogen Generation plant on BOO basis through Electrolysis route."

In addition to this project, Gensol Engineering recently increased the size of its Qualified Institutional Placement (QIP) fundraising initiative to Rs. 750 crore. Initially approved at Rs. 500 crore during a board meeting held on August 12, the company raised the issue size by Rs. 250 crore in its most recent board meeting on September 6. This move strengthens Gensol's financial position and reflects investor confidence in the company's growth trajectory.

Earlier in the month, Gensol emerged as the lowest bidder for India's first bio-hydrogen project. This Rs. 164 crore project, to be developed in collaboration with Matrix Gas & Renewables, marks another milestone in the company's strategic expansion. Set to be completed within 18 months, the bio-hydrogen project aligns with India's National Green Hydrogen Mission.

The bio-hydrogen project will utilize technology from Westinghouse, USA, with which Gensol has formed a strategic partnership. Westinghouse's patented plasma-induced radiation energy-based gasification system (GH2-PREGS) will be central to the development of this project. The scope of the work includes establishing a 25-ton per day (TPD) bio-waste processing plant and producing 1 TPD of green hydrogen from this innovative technology.

Founded in 2012, Gensol Engineering Limited is a prominent player in India's renewable energy sector. The company specializes in solar power engineering, procurement, and construction (EPC) services, and is also active in electric mobility solutions. Gensol's diverse portfolio includes solar EPC projects, electric vehicle leasing through Let'sEV, and electric vehicle manufacturing via Gensol EV.

Gensol Solar EPC has established itself as one of the top 10 EPC players in India and among the top 5 independent EPC providers. The company has successfully executed over 770 MW of solar projects, which include rooftop, ground-mount, and floating solar installations across almost every state in India. This extensive experience positions Gensol as a trusted leader in the solar energy sector, with capabilities that span both national and international markets.