Belgium-headquartered engineering major John Cockerill Group is set to make a significant investment in India’s green hydrogen sector. The company aims to establish an electrolyzer plant in India that will be a hub for exporting these apparatus. Additionally, the group also plans to venture into defense manufacturing, addressing India’s second-largest army.
Francois Michel, chief executive, John Cockerill Group, stated in an interview that several hundred million dollars would go into the electrolyzer plant. This pronouncement follows earlier reports that about $500 million would be invested in the project.
The company’s investment in the green hydrogen space is set to revolutionize India’s energy sector. The planned 2-GW joint venture facility with Greenko is poised to make India a major hub for electrolyzer exports, with the plant expected to be commissioned within the next two years.
The company aims to tap into the demand for electrolyzers in India, a demand that’s already sufficient to fill up the plant. However, with India’s potential as an export hub, more acceleration is anticipated to meet the growing demand.
India’s potential for green hydrogen production is inevitable due to the availability of low-cost renewable energy. The country’s efforts to integrate technologies such as electric vehicles and green hydrogen, alongside strong engineering, procurement, and construction (EPC) capabilities, further substantiate India’s potential in the hydrogen path.
The green hydrogen space in India has attracted significant investor interest, especially after the government’s introduction of the National Green Hydrogen Mission. The initiative aims to produce 5 million tonnes of green hydrogen per annum by 2030, with key consumers expected to include fertilizer makers, refineries, and steel makers.
As part of its foray into India’s green hydrogen market, John Cockerill is partnering with French technology firm Technip Energies to set up operations in India. The company, a major player in the production of light tanks, is also positioning itself to cater to the steel industry’s decarbonization needs.
The company’s expansion into India points to a significant milestone in the country’s renewable energy and defense manufacturing sectors. With the country’s ongoing efforts to establish itself as a leader in sustainable energy production, John Cockerill’s investment is poised to play a pivotal role in India’s energy transformation.
The article was published on 18th February 2024 at 11:39 PM IST.
