Hygenco Green Energies, an Indian renewable energy company, has announced its plans to procure over 1,125 MW of renewable energy to support its upcoming green ammonia project. This significant tender aims to secure 625 MW from solar PV projects and 500 MW from wind power, making it the largest tender of its kind in India.
The company is offering favorable terms to minimize risk for developers and ensure a transparent procurement process, attracting a wide range of participants in the renewable energy sector. The procurement of clean energy is crucial for the production of green ammonia, as it helps in the transition away from fossil fuels.
Green ammonia, produced using renewable energy sources, is considered a vital solution in the global energy transition. With industries shifting away from fossil fuels, the green ammonia market is projected to grow to $17.9 billion by 2030.
In addition to supporting the green ammonia project, this large-scale procurement of renewable energy will contribute to India’s transition towards a low-carbon economy. It also aligns with the National Green Hydrogen Mission’s goal of making India a Green Hydrogen Hub by 2030.
Hygenco Green Energies, based in Gurgaon, India, is actively involved in the development and deployment of green hydrogen and green ammonia assets. The company has already commissioned India’s first green hydrogen project in Hisar and plans to invest $2.5 billion over the next three years to establish Green Hydrogen projects across India.
This initiative by Hygenco is a significant step towards achieving India’s renewable energy targets and promoting the adoption of sustainable alternatives in the energy sector. By inviting bids for a substantial amount of renewable energy, the company is driving the growth of the clean energy industry and contributing to a greener future for India.
Frequently Asked Questions (FAQs)
Q: What are the plans of Hygenco Green Energies?
A: Hygenco Green Energies, an Indian renewable energy company, plans to procure over 1,125 MW of renewable energy to support its upcoming green ammonia project.
Q: What is the goal of this significant tender by Hygenco Green Energies?
A: The tender aims to secure 625 MW from solar PV projects and 500 MW from wind power, making it the largest tender of its kind in India.
Q: Why is the procurement of clean energy crucial for the production of green ammonia?
A: Clean energy is essential for the production of green ammonia as it helps in the transition away from fossil fuels.
Q: What is green ammonia?
A: Green ammonia is produced using renewable energy sources and is considered a vital solution in the global energy transition.
Q: How much is the green ammonia market projected to grow by 2030?
A: The green ammonia market is projected to grow to $17.9 billion by 2030.
Q: How does this large-scale procurement of renewable energy contribute to India’s goals?
A: In addition to supporting the green ammonia project, the procurement of renewable energy aligns with India’s goal of transitioning towards a low-carbon economy and becoming a Green Hydrogen Hub by 2030.
Q: What is the involvement of Hygenco Green Energies in the renewable energy sector?
A: Hygenco Green Energies is actively involved in the development and deployment of green hydrogen and green ammonia assets in India.
Q: What is Hygenco’s investment plan for Green Hydrogen projects?
A: Hygenco plans to invest $2.5 billion over the next three years to establish Green Hydrogen projects across India.
Q: How does Hygenco’s procurement initiative contribute to India’s renewable energy targets?
A: Hygenco’s initiative drives the growth of the clean energy industry by inviting bids for a substantial amount of renewable energy, thus promoting India’s renewable energy targets.
Key terms and jargon:
– Green ammonia: Ammonia produced using renewable energy sources.
– Renewable energy: Energy derived from sources that are naturally replenished, such as solar or wind power.
– Fossil fuels: Fuels formed from the remains of ancient plants and animals, such as coal, oil, and natural gas.
– Low-carbon economy: An economic system where greenhouse gas emissions are minimized, primarily by using renewable energy sources.
– Green hydrogen: Hydrogen produced using renewable energy sources.
– Green Hydrogen Hub: An initiative to develop hydrogen production and utilization using green energy sources.
Suggested related links:
– Hygenco Green Energies
– National Renewable Energy Laboratory
– International Energy Agency – Renewables