Mumbai: Plug Power, a US-based green hydrogen fuel cell manufacturer, is exploring the possibility of setting up multi-gigawatt electrolyser manufacturing plants in India by the end of the decade, depending on market demand and government incentives, reports The Economic Times.
“We are excited about the potential to develop large-scale electrolyser projects in India before 2030, provided the right demand and cost structures are in place,” said Sanjay Shrestha, Plug Power’s President, in an exclusive interview with ETEnergyWorld.
The company, listed on Nasdaq, secured a $1.7 billion loan guarantee from the US Department of Energy in January 2024. Shrestha highlighted the importance of collaborating with an established local partner in India to accelerate the green hydrogen industry and reduce costs.
It has also constructed the world’s first and largest liquid green hydrogen plant in Georgia and is finalising work on a 100-MW PEM electrolyser in Europe. The next major project, a green hydrogen plant in Texas, will be three times larger than the Georgia facility, with a capacity of over 750 metric megatonnes (MMT).
Plug Power’s operations extend across five continents, including active projects in South Korea, India, and Australia, with North America and Europe remaining key focus areas.
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