Hygenco Green Energies has officially signed a memorandum of understanding (MoU) with Mitsubishi Power, setting the stage to explore the development of gas turbine combined cycle (GTCC) power plants fueled by green hydrogen and ammonia.
This MoU is aimed at delivering these advanced solutions both in India and on a global scale.
Indo-Japanese Collaboration: A Strategic Alliance for Sustainable Development
The partnership between Indo-Japanese entities on energy security and green ammonia illustrates a strategic alliance focused on advancing sustainable development and minimizing carbon emissions.
This collaboration emphasizes the exchange of cutting-edge technologies and joint investments to drive progress in the energy sector.
Saito Mitsunori, Chief Representative of JICA India, remarked, “JICA is dedicated to supporting the advancement of green hydrogen technologies.
The collaboration between Hygenco and MHI showcases the international cooperation required to tackle climate change and foster sustainable growth.
JICA will continue to support this partnership and is eager to witness the impact of the JICA – Neev Fund co-creation platform.”
Hygenco’s Role and Technological Integration
Hygenco will provide green fuel for Mitsubishi Power’s GTCC technology, targeting potential customers for these solutions.
The company plans to develop and deploy scalable, commercially viable green hydrogen and green ammonia production assets under models such as build-own-operate or gas-as-a-service.
Amit Bansal, CEO of Hygenco Green Energies, stated, “This collaboration will align Hygenco’s green fuel supply with Mitsubishi Power’s technology in India and internationally, reflecting the essence of Vasudhaiva Kutumbakam – the world is one family. We are eager to apply our expertise in green hydrogen and ammonia to advance the decarbonization of power generation and contribute to a sustainable energy future.”
Investment and Future Prospects
Prem Prabhakar, Managing Director & CEO of SBI Ventures Ltd, which manages the Neev II Fund invested in Hygenco, commented, “We believe this partnership will lead to innovative and sustainable energy solutions. Investing in green hydrogen and ammonia production is vital for India’s energy security, transition, and environmental objectives.”
Mitsubishi Power is at the forefront of developing hydrogen and ammonia firing technologies to decarbonize existing GTCC plants by transitioning their fuel from natural gas to hydrogen/ammonia. The company has a track record of involvement in numerous projects worldwide.