GreenZo Energy to infuse ₹400 cr for setting up 250 MW electrolyser factory

Delhi-based GreenZo Energy on Wednesday announced its plan to infuse ₹400 crore for setting up a 250 MW electrolyser factory. The company will also make an additional investment in R&D for green hydrogen electrolyser output this fiscal.

Further, GreenZo will invest ₹70 crore in R&D (Research & Development) for the production of the green hydrogen electrolyser in the financial year FY23.

GreenZo in a statement said that it plans to set up a 250 MW electrolyser factory, which would consume an investment of ₹3-4 billion by the end of 2025, as per the PTI report.

As per GreenZo, the investment will ensure the availability of end-to-end solutions within the country and cut down dependence on imports for this key equipment.

It added, "local production of electrolysers is crucial to bringing the cost of green hydrogen to $1-2 per kilogram by 2030."