POSCO and Greenko ZeroC to produce green hydrogen in India
The partners will explore the business opportunities in potential projects in the following areas.
POSCO and ZeroC of Greenko have established a strategic partnership to produce green hydrogen, ammonia and related derivatives in India for the domestic and export market.
GZC is part of the Greenko group. Greenko is one of India’s leading renewable energy companies, replacing fossil fuels with integrated decarbonized energy and grid assets enabling sustainable and affordable energy, with a net installed capacity of 7.5 GW across 15 States in India. Greenko’s development pipeline includes nearly 100 GWh of Pumped Hydro Storage projects enabling Round-the-Clock RE Power (RE RTC) and a pioneering foray into the Green Molecules business, including a Giga-Watt capacity electrolyzer facility in India.
The Parties will cooperatively explore the business opportunities in potential projects in the following areas: the production of competitive renewable energy in India; Supply of green hydrogen/ammonia to POSCO Holdings export (and/or its Affiliates) and/or Indian domestic market; Joint production of green hydrogen/ammonia in the export-oriented special economic zone; and Use of steel materials from POSCO (Affiliate of POSCO Holdings) in the development of infrastructure for potential project.
Mr Chou, Executive Vice President (Hydrogen), POSCO, said, “We are extremely excited to be partnering with Greenko, India is one of the most Strategic hydrogen production hub due to its ample renewable energy sources coupled with progressive government policies.”
Anil Kumar Chalamalasetty, CEO and Managing Director at Greenko, said, “This pioneering partnership will propel the transformation of India from a carbon-based fossil energy importer to an exporter of Renewable Energy derived products like Green Hydrogen, Green Ammonia and Green Molecules.”