The two have signed an MoU at the Vibrant Gujarat Global Summit 2024 to develop facilities for the production of green hydrogen on a land parcel that will be provided by GPPL.
Welspun New Energy Limited (WNEL) and Gujarat Pipavav Port Limited (GPPL) have entered into an MoU at the Vibrant Gujarat Global Summit 2024 with the primary objective of exploring and developing facilities for the production of green hydrogen. For the project, a designated land parcel will be provided by GPPL.
The MoU facilitates a partnership for the joint production and off-take arrangements of green molecules generated at these facilities, with Gujarat Pipavav Port, a venture promoted by APM Terminals, participating in the endeavor.
Kapil Maheshwari, the CEO of Welspun New Energy, said that the focus on establishing an ecosystem for sustainability transition of GPPL through Green Ammonia and Green Methanol. The initiative also seeks to position Pipavav Port as a global Green Shipping Line.
Welspun New Energy wants to invest over Rs 40,000 crores in establishing a green hydrogen and green ammonia ecosystem in Gujarat. This will support the state’s decarbonization objectives.
WNEL has received in-principle approval from the government of Gujarat to develop renewable energy on approximately 20,000 acres of land for green hydrogen production.
In the advanced stages of development, WNEL is working on around 1,000 MW of renewable energy projects for major manufacturing units in Gujarat, with MoUs already signed for the export of domestically produced green molecules.
Recently, Essar Group announcement the upcoming development of a 1GW green hydrogen project in Gujarat, representing an approximate investment of Rs30,000 crore. In line with an industrial expansion initiative, Essar Power has additionally disclosed an investment of Rs16,000 crore for the Phase-II expansion of its Salaya Power Plant.
Similarly, Adani Total Gas Ltd (ATGL) has unveiled plans for a green hydrogen blending pilot initiative in Ahmedabad, Gujarat, India. This project aims to combine green hydrogen with natural gas to serve over 4,000 residential and commercial customers in the city.