Mitsubishi Power and Hygenco Green Energies, under the aegis of the Japan International Cooperation Agency (JICA), have signed a Memorandum of Understanding to explore the development of green hydrogen and ammonia-fired gas turbine combined cycle (GTCC) power plants. This strategic initiative will be implemented both in India and internationally, aligning with India’s ambitious National Green Hydrogen Mission.
The partnership aims to combine Mitsubishi Power’s advanced GTCC technology with Hygenco’s green fuel supply to create commercially viable green hydrogen and green ammonia production assets. This collaboration is supported by JICA’s India Office and builds on JICA’s investment in the NEEV II Fund, managed by SBI Ventures Limited (SVL), which invested in Hygenco in October 2022.
SAITO Mitsunori, Chief Representative of JICA India, emphasized the initiative’s alignment with global environmental goals, stating, “This collaboration represents the essential international cooperation needed to address climate change and promote sustainable growth. We are committed to supporting these efforts and are enthusiastic about the transformative potential of the JICA – Neev Fund co-creation platform.”
Amit Bansal, CEO of Hygenco Green Energies, detailed the global vision of the partnership: “By integrating our green fuel supply with Mitsubishi’s state-of-the-art technology, we aim to play a crucial role in the decarbonization of power generation and support the global shift towards a sustainable energy future.”
Prem Prabhakar, MD & CEO of SBI Ventures Limited, which manages the NEEV II Fund, discussed the broader impact of the partnership on India’s energy sector: “Investing in green hydrogen and ammonia production is crucial for improving India’s energy security and achieving its environmental objectives. This collaboration will bring innovative energy solutions essential for the country’s energy transition.”
