German conglomerate, Thyssenkrupp, has big plans for the hydrogen sector in India, reports Economic Times newspaper.
The company has plans to invest in India, the report says.
German conglomerate Thyssenkrupp is betting big on producing green hydrogen through its proprietary electrolyser technology in India, at a time when plans are afoot at the headquarters to spin off its hydrogen business and take it to the bourses soon.
The company said that there was a growing demand for electrolyser technology globally as well as in India as industries look for greener fuels to reduce their carbon footprint and meet their sustainability goals. Being one of the few companies to have demonstrated scalable electrolyser technology, Thyssenkrupp was ramping up its production facilities.
"While ramping up, there are also plans to invest in India. We are working out on which part of the value chain of producing electrolyser can we invest in and develop in India," Cetin Nazikkol, the chief executive of Thyssenkrupp Asia Pacific Africa, told the newspaper.
Comment
Thyssenkrupp, one of world's most respectable engineering companies, entering India is good news for the country, because the company has experience in electrolysers.
A year back, Thyssenkrupp announced that it would build a huge, 88MW electrolyser plant for Canadat at Quebec. The plant would produce 11,100 tons of green hydrogen annually, and would be built right there, at Quebec. Commissioning of the plant was scheduled for late 2023. The plant would count among the world's largest.
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