Gensol-Matrix secures 237 MW hydrogen electrolyzer manufacturing bid

16 Aug 2024 CW Team

Gensol Engineering, in partnership with Matrix Gas & Renewables, has won a bid for a 237 MW hydrogen electrolyzer manufacturing capacity under the Production Linked Incentive (PLI) program. This award, secured through a competitive tender by the Solar Energy Corporation of India (SECI), is part of a larger 300 MW capacity allocated to the consortium, including a previous 63 MW from the first tranche of the SECI tender. The total incentive for this capacity is Rs 4.5 billion.

The Ministry of New and Renewable Energy has allocated Rs 44.4 billion to promote electrolyzer manufacturing under the National Green Hydrogen Mission (NGHM), aimed at reducing hydrogen production costs. The NGHM, approved by the Union Cabinet in January with an initial budget of Rs 197.44 billion, seeks to foster demand, production, and export of green hydrogen, targeting 5 million metric tons of annual production by 2030.

Electrolyzers are vital for generating green hydrogen and its derivatives. Anmol Jaggi, Managing Director, Gensol Engineering, emphasised that winning this PLI capacity underscores the company?s commitment and technical prowess in the green hydrogen sector, paving the way for further growth and collaboration in renewable energy.

Chirag Kotecha, Whole-time Director at Matrix Gas & Renewables, highlighted that the successful bid reflects the consortium's technological expertise and manufacturing capabilities. He noted that the electrolyzer manufacturing initiative is key to their strategy for large-scale decarbonization through green hydrogen, aligning with their goal of positioning India as a leader in sustainable, low-carbon energy.

The Gensol-Matrix collaboration is poised to capitalise on their combined strengths in green hydrogen and related areas, including green steel and green ammonia. (Mercom)

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..