Hero Group's renewable energy arm, Hero Future Energies (HFE) is actively exploring opportunities in green hydrogen projects in India, according to a report of ETenergyworld.
The group may soon make a an announcement in this regard in the coming months, HFE' Global Chief Executive Officer Srivatsan Iyer told the website.
Iyer said, “Green hydrogen is a focal area of interest for us. We are actively engaging with various customers across India to explore diverse project opportunities. We anticipate making some announcements in the coming months as these discussions progress and materialise into concrete initiatives.”
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However, HFE clarified that they are not planning to produce green hydrogen electrolysers. Although they signed a strategic MoU with Ohmium, an electrolyser company based in Bangalore, they will continue to source from the market and adopt the best available technology.
HFE has partnered with Ohmium International to develop 1,000 MW of green hydrogen production facilities in India, the UK, and the rest of Europe.
On this year's budget allocation for green hydrogen, Iyer expressed positivity but emphasized the need for demand mandates. He suggested that the government should consider implementing certain levels of demand mandates to kickstart the sector. Currently, the major consumers in industries like refining and fertilizers are hesitant to adopt green hydrogen due to the high cost compared to traditional sources. Increasing adoption through demand mandates would help bring down the cost and