Greenzo Energy India Limited is planning to invest $50 million for manufacturing 250 MW electrolysers per year and the balance of plant (BoP) for generating green hydrogen at Sanand-II Industrial Estate, a part of Gujarat Industrial Development Corporation (GIDC), Gujarat.
The manufacturing facility is expected to be completed by March 2024. The company has received an investment commitment of $1 million from angel investor Real Time Accelerator Fund (SEBI-approved Category 1 AIF). Besides, the company has signed an memorandum of understanding for project engineering with UK-based public limited companies. For technological support, it would be supported by its in-house team of ex-officers of NTPC Limited and technology experts from the Indian Institute of Technology (IIT).