Hygenco floats India’s largest RE power procurement tender for its Green Ammonia project

Gurugram: Hygenco Green Energies has floated India’s largest tender for the procurement of Renewable Energy (RE) for its upcoming Green Ammonia project. “Hygenco Green Energies Pvt Ltd, a pioneer in producing low-cost green hydrogen, has invited bids for over 1,125 Megawatt (MW)/ 1.1 Gigawatt (GW) of renewable energy, to support its upcoming Green Ammonia Project. This is the largest tender for procuring renewable power for a green ammonia project in India, reinforcing Hygenco’s continued commitment to sustainability,” said the company in a statement on Monday.

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Tender offers favourable terms to minimise risk for RE developers: Hygenco

Hygenco aims to procure 625 MW from solar PV projects and 500 MW through wind power. “The tender offers favourable terms to minimise risk for developers and ensures a transparent procurement process, attracting a broad range of participants in the renewable energy sector,” the company said. Bidders can evaluate the tender on Hygenco’s official website, https://www.hygenco.in/, it added.

Amit Bansal, Co-Founder and CEO of Hygenco, said, “As one of the very few, pure-play Green Hydrogen companies with operational assets, Hygenco is rapidly moving towards its mission of facilitating India’s energy security and achieving climate goals. This large tender of over 1 GW is amongst the many firsts achieved by us and demonstrates both our ambition and action in scaling up India’s Green Hydrogen and Green Ammonia market.”

Headquartered in Gurgaon, India, Hygenco develops and deploys scaled-up commercially attractive green hydrogen and green ammonia assets. Hygenco, which has deep capabilities in designing, building, and operating Green Hydrogen projects, has commissioned India’s first Green Hydrogen project in Hisar, which was inaugurated by Union Minister of Civil Aviation and Steel earlier this year. Hygenco is looking to invest USD 2.5 billion over three years to set up Green Hydrogen projects in India.

Green Ammonia

Green ammonia, produced using renewable energy, is considered as a crucial solution in energy transition. Globally, the green ammonia market is projected to grow to USD 17.9 billion by 2030, as industries shift away from fossil fuels.

The large-scale procurement will also contribute to India’s transition towards a low-carbon economy. It also gives a significant fillip to the National Green Hydrogen Mission, which is aiming to make India a Green Hydrogen Hub by 2030.

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