Leading conglomerates Reliance Industries Ltd (RIL), Larsen & Toubro (L&T), Greenko Group, and Welspun New Energy have secured land parcels at Gujarat's Deendayal Port Authority (DPA) in Kandla to set up green hydrogen and green ammonia production units, as per an Economic Times report.
According to industry executives, the cumulative investment in these projects could reach up to ₹1 lakh crore, making it one of the largest investments in the green energy infrastructure space in India, added the report.
The move is part of the National Green Hydrogen Mission, which aims to make India a global hub for green hydrogen production, utilisation, and export.
Also Read | GM Breweries share price Today Live Updates: GM Breweries Stock Rises on Positive Trading DayKandla Port is targeting green ammonia production of 7 MTPA and 1.4 MTPA of green hydrogen.
Green hydrogen is produced by electrolysing water using power from renewable energy sources without emitting any greenhouse gases.
Leading conglomerates Reliance Industries Ltd (RIL), Larsen & Toubro (L&T), Greenko Group, and Welspun New Energy have secured land parcels at Gujarat's Deendayal Port Authority (DPA) in Kandla to set up green hydrogen and green ammonia production units, as per an Economic Times report.
According to industry executives, the cumulative investment in these projects could reach up to ₹1 lakh crore, making it one of the largest investments in the green energy infrastructure space in India, added the report.
Also Read | Indian Oil Corporation share price Today Live Updates: Indian Oil Corporation Stock Rises on Positive Trading Day
The port authority had received expressions of interest for 14 land parcels of 300 acres each in October 2023, with each parcel earmarked for 1 million tonnes per annum (MTPA) of green ammonia production. Last month, DPA allotted the plots to the four companies, with RIL securing six plots, L&T five, Greenko Group two, and Welspun New Energy one, as per the report.
“DPA offered 14 plots with around 4,000 acres of land in total. Of these, RIL has been allotted six plots, L&T has been allotted five, Greenko Group has bagged two and Welspun New Energy has been allotted one plot. These four companies had bid the highest in the auction," said one of the executives, as quoted by Economic Times.
Also Read | Tata Steel, JSW ,Vedanta, Hindalco, SAIL share price rise up to 4%: Amongst top Nifty-50 gainers as metals pack shines
Livemint could not independently verify this news.
The move is part of the National Green Hydrogen Mission, which aims to make India a global hub for green hydrogen production, utilisation, and export. The mission targets a green hydrogen production capacity of 5 MTPA by 2030, with an associated renewable energy capacity addition of about 125 GW and a cumulative reduction in fossil fuel imports by over ₹1 lakh crore, the report further added.
Also Read | GM Breweries share price Today Live Updates: GM Breweries Stock Rises on Positive Trading Day
Kandla Port is targeting green ammonia production of 7 MTPA and 1.4 MTPA of green hydrogen. Green hydrogen is produced by electrolysing water using power from renewable energy sources without emitting any greenhouse gases. Ammonia is a key end-user segment for green hydrogen and plays a crucial role in scaling up its production.
Milestone Alert! Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
