For Ohmium, which has already launched its Electrolyser Gigafactory in Bengaluru, the deal signals quick acceptance and growth opportunities in the Indian market.
In a key announcement, Hero Future Energies and Ohmium International on Thursday announced a strategic partnership to build 1,000 MW of green hydrogen production facilities in India, the UK and Europe. The announcement follows Ohmium’s announcement late last year of the shipping of the first electrolyser manufactured by it to be exported to the US.
In the new partnership, Hero Future will assume the overall ownership of the assets, while Ohmium will be responsible for the design, construction, and operations and maintenance of the facilities. The renewable energy yo run the electrolyser, and make it green hydrogen in effect, will be provided by Hero Energies.
“This is a forward-looking partnership which is perfectly aligned with Hero Future Energies’ vision as an integrated energy transition solutions provider,” Srivatsan Iyer, Global CEO of Hero Future Energies said, adding that “it will enable us to expand our international footprint as we penetrate new markets”.
India currently consumes about around 6 million tonne of hydrogen annually and the government is looking for ways to increase the use of green hydrogen in energy intensive industries like metals and chemicals . To achieve this, minimum use requirements, as well as a PLI scheme for Electrolyser manufacturing is in the works. Majors like Reliance Industries have already confirmed plans to get into manufacturing, even as multiple PSU energy majors rush to provide shape to the evolving Hydrogen policy on the ground.
While the holy grail of green hydrogen pricing is supposed to be $1 per k.g, even a price of $2 per kg will be viable for many sectors, where Hydrogen use is planned to be mandated in specific quantities. Ahmed Chatila, Ohmium Chairman at the US-based Ohmium, the possibility of $1 per kg green hydrogen could be as early as 2025, according to reports where ha has been quoted. That would be a full 5 years before anyone else hopes to get there.