Major players secure green hydrogen production contracts by SECI

08 Jan 2024 CW Team

Bucket I, with a cumulative capacity of 410,000 MT/annum, saw Reliance, Greenko, and ACME securing 90,000 MT each, with average incentives of Rs 18.9 (~$0.227)/kg, Rs 30 (~$0.360)/kg, and Rs 30 (~$0.360)/kg, respectively. Hygenco clinched 75,000 MT capacity with an average incentive of Rs 25.04 (~$0.301)/kg. Additional winners under Bucket I included Welspun (20,000 MT at Rs 20 (~$0.240)/kg), Torrent Power (18,000 MT at Rs 28.89 (~$0.347)/kg), CESC Projects (10,500 MT), and UPL (10,000 MT with zero incentive).

JSW Neo Energy secured 6,500 MT under Bucket I at Rs 34.66 (~$0.416)/kg. All the allocated capacity fell under Bucket I.

Bharat Petroleum Corporation secured the sole capacity under Bucket II, winning 2,000 MT of green hydrogen manufacturing capacity at an average incentive of Rs 30 (~$0.360)/kg. The remaining 38,000 MT capacity in Bucket II remained unallocated.

The tender, issued in July under the Ministry of New and Renewable Energy?s Tranche-I of the Strategic Interventions for Green Hydrogen Transition (SIGHT) program, pertained to green hydrogen and electrolyzer manufacturing. The selected bidders are expected to establish production facilities on a thousand metric tons (TMT) scale for green hydrogen and its derivatives, with a commissioning timeline of 30 months from the letter of award.

The average incentives were determined based on the three-year incentives proposed by the companies in their respective proposals. While the green hydrogen capacity allocations have been finalised, the electrolyzer bids are still undergoing evaluation and are anticipated to be disclosed later this month.

Reliance Green Hydrogen and Green Chemicals (Reliance), ACME Cleantech Solutions, Greenko ZeroC (Greenko), HHP Two (Hygenco), and Bharat Petroleum Corporation emerged victorious in the Solar Energy Corporation of India?s (SECI) tender for the establishment of green hydrogen production facilities, with a total annual capacity of 450,000 metric tons (MT). The tender, initiated in July, encompassed two categories: Technology Agnostic Pathways (Bucket I) and Biomass-based Pathways (Bucket II). Bucket I, with a cumulative capacity of 410,000 MT/annum, saw Reliance, Greenko, and ACME securing 90,000 MT each, with average incentives of Rs 18.9 (~$0.227)/kg, Rs 30 (~$0.360)/kg, and Rs 30 (~$0.360)/kg, respectively. Hygenco clinched 75,000 MT capacity with an average incentive of Rs 25.04 (~$0.301)/kg. Additional winners under Bucket I included Welspun (20,000 MT at Rs 20 (~$0.240)/kg), Torrent Power (18,000 MT at Rs 28.89 (~$0.347)/kg), CESC Projects (10,500 MT), and UPL (10,000 MT with zero incentive). JSW Neo Energy secured 6,500 MT under Bucket I at Rs 34.66 (~$0.416)/kg. All the allocated capacity fell under Bucket I. Bharat Petroleum Corporation secured the sole capacity under Bucket II, winning 2,000 MT of green hydrogen manufacturing capacity at an average incentive of Rs 30 (~$0.360)/kg. The remaining 38,000 MT capacity in Bucket II remained unallocated. The tender, issued in July under the Ministry of New and Renewable Energy?s Tranche-I of the Strategic Interventions for Green Hydrogen Transition (SIGHT) program, pertained to green hydrogen and electrolyzer manufacturing. The selected bidders are expected to establish production facilities on a thousand metric tons (TMT) scale for green hydrogen and its derivatives, with a commissioning timeline of 30 months from the letter of award. The average incentives were determined based on the three-year incentives proposed by the companies in their respective proposals. While the green hydrogen capacity allocations have been finalised, the electrolyzer bids are still undergoing evaluation and are anticipated to be disclosed later this month.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Infrastructure Energy

06 Apr 2026

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

Real Estate

06 Apr 2026

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..