Hero Future Energies Explores Green Hydrogen Projects in India
By siliconindia | Monday, 12 February 2024, 12:57:42 PM IST
Hero Future Energies (HFE), the renewable energy arm of Hero Group, is actively pursuing opportunities in green hydrogen projects in India. HFE's Global CEO, Srivatsan Iyer, expressed the company's keen interest in green hydrogen, anticipating announcements on specific initiatives in the coming months.
While HFE has collaborated with electrolyzer company Ohmium International for a strategic Memorandum of Understanding (MoU) to develop 1,000 MW of green hydrogen production facilities, Iyer clarified that HFE does not plan to produce green hydrogen electrolyzers. The company will continue to source from the market, adopting the best available technology.
Commenting on the government's budget allocation for green hydrogen, Iyer emphasized the importance of demand mandates to drive sector growth. He suggested that implementing demand mandates would encourage major consumers in industries like refining and fertilizers to adopt green hydrogen, ultimately reducing costs and accelerating adoption.
In terms of making green hydrogen accessible to the public, Iyer proposed two possibilities: blending it in the city gas distribution system and using it in heavy-duty mobility, particularly in long-distance trucks or buses. HFE currently operates 3 GW of grid-connected wind, solar, and rooftop solar power-generating assets in India and Europe. With an additional 2 GW of projects in the pipeline across India, Vietnam, Bangladesh, and the UK, the company is at the forefront of green energy initiatives.
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