Gensol Engineering Ltd and Matrix Gas & Renewables Ltd has secured the project to setup India's first Green Hydrogen Valley in Pune, Maharashtra

Gensol Engineering Limited (BSE: 542851) (NSE: GENSOL), a leading player in the renewable energy sector specializing in solar engineering, procurement, and construction (EPC) and electric mobility solutions, in collaboration with Matrix Gas & Renewables Ltd., a fast growing green hydrogen infrastructure developer and natural gas aggregator, announced that Gensol and Matrix have won the project to setup India's first Green Hydrogen Valley project in Pune. Gensol - Matrix will set up Green Hydrogen production plant on Build Own and Operate (BOO) basis to supply Green Hydrogen to Specialty Chemical sector with the firm offtake for 20 years.

Commenting on this achievement, Anmol Jaggi, Managing Director, Gensol Engineering Ltd., said, "We feel immense pride to develop India's first Green Hydrogen Valley project. Government of India has taken a great step in promoting these Hydrogen Valleys through Department of Science & Technology (DST). We are going to supply Green Hydrogen to the specialty chemical Sector in Pune, Maharashtra on round the clock (RTC) basis to develop the Green Hydrogen economy in India"

Chirag Kotecha, Whole-time Director at Matrix Gas and Renewables Ltd., added, "We are committed to contribute to India's net-zero targets by achieving the key aspects of National Green Hydrogen Mission. This Green Hydrogen valley is being facilitated by National Chemicals Laboratories (NCL), Pune in Kurkumbh region. We will have an opportunity to establish such Green Hydrogen generation concepts, its applications and R&D facilities. We have been selected through competitive tender as the best bidder (both Technically and Commercially) to setup a Green Hydrogen Generation plant on BOO basis through Electrolysis route."

Gensol & Matrix are both companies promoted by common promoters and will continue to collaborate in the Green Hydrogen and its derivates including Green Steel and Green Ammonia domain taking benefit of the skill sets of each entity.

Shares of Gensol Engineering Ltd was last trading in BSE at Rs. 908.90 as compared to the previous close of Rs. 918.75. The total number of shares traded during the day was 46168 in over 2273 trades.

The stock hit an intraday high of Rs. 936.05 and intraday low of 902.95. The net turnover during the day was Rs. 42352609.00.

Source : Equity Bulls

Keywords

GensolEngineering INE06H201014 MatrixGasandRenewables OrderWin GreenHydrogenValleyProject Pune