Oil India Ltd (OIL) and HomiHydrogen have signed an MoU for the establishment of a 1.5 GW per annum manufacturing facility, which is to come up in Pune, Maharashtra. HomiHydrogen is a joint venture that has been formed by leading electrolyser firms from Germany, Switzerland, Italy and Norway. The initiative will see an investment worth $50 million.
“OIL and HomiHydrogen plan to work together to establish a framework that can enable the parties to study, structure and agree on a possible long-term partnership, which could include manufacturing and packaging of electrolysers in India and become an integral part of the Green Hydrogen value chain,” read a company statement.
HomiHydrogen will create 300 green employment opportunities and catapult India as a hub for Green Hydrogen technologies, the firm stated, while adding that production will begin next year.
HomiHydrogen will produce AEM, PEM, Alkaline and SOE electrolysers in India.
Siddharth R. Mayur, Founder & Managing Director, h2e Power Systems- the promoter of HomiHydrogen, said, “HomiHydrogen is an initiative to build an ethical, sustainable, inexpensive and state of the art electrolysers that will cater to domestic needs and exports. HomiHydrogen stands unique with its focus not only electrolysers but also critical components like rectifiers and transformers, R&D and last mile solutions.”
Dr. Sturle Peder, Chairman, GreenStat Hydrogen India, “GreenStat is excited to be a partner in India’s journey to become a Green Hydrogen hub. HomiHydrogen is distinctive as we will produce a bouquet of electrolyser technologies, which will cater to a wide range of market segments. This joint venture reinforces our commitment to Indo-Norwegian partnership.”
Dr Prashant Kamath, Managing Director, Blue Basic Engineering India, said, “We are extremely proud that we are able to bring global technologies to India and manufacture them with the local Indian innovation to create a built to last product. Blue Basic is looking forward to contributing to HomiHydrogen with the most innovative electrolyser technologies, which will be a fitting tribute to the great D. Bhabha.”
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