Hygenco Green Energies Pvt Ltd, a subsidiary of HHP Five Private Limited, has officially entered into a binding agreement with Tata Steel Special Economic Zone Industrial Park to establish and scale up a green ammonia project in Gopalpur, Odisha.
The project aims to produce 1.1 million tonnes per year of green ammonia from the plant in multiple phases. Hygenco plans to commission the initial phase of the project by December 2026. This collaboration builds upon the project approval received in February 2024 from the esteemed Chief Minister’s Cabinet.
Amit Bansal, Founder, and CEO of Hygenco, expressed excitement about expanding their expertise in green hydrogen to this project. He emphasized the goal of producing green ammonia at the lowest cost for customers. The initial phase will largely focus on exports, and Hygenco is already engaged in advanced discussions with various buyers.
Manikanta Naik, CEO of Tata Steel Special Economic Zone Limited, expressed happiness about partnering with Hygenco. The collaboration further strengthens the industrial park as a potential hub for green hydrogen and ammonia in the country.
Hygenco has signed several long-term binding purchase agreements for green hydrogen in India, including the recently commissioned megawatt-scale plant in Hisar, Haryana, for a leading steel company. Another project for STL (Vendanta Group) in Maharashtra is currently under construction.
Hygenco, based in Gurgaon, India, focuses on the development and deployment of commercially attractive green hydrogen and ammonia assets. With expertise in designing, constructing, and operating green hydrogen projects, the company aims to invest $2.5 billion over three years to establish green hydrogen projects in India.
For more information about Hygenco, please visit their website at https://www.hygenco.in/.
The article discusses the establishment and scaling up of a green ammonia project in Gopalpur, Odisha by Hygenco Green Energies Pvt Ltd. The project aims to produce 1.1 million tonnes per year of green ammonia, with the initial phase expected to be commissioned by December 2026. The collaboration between Hygenco and Tata Steel Special Economic Zone Industrial Park strengthens the potential of the industrial park as a hub for green hydrogen and ammonia.
One key advantage of the project is the focus on producing green ammonia at the lowest cost for customers. This could potentially make green ammonia more affordable and accessible, promoting its use in various industries. Additionally, the project’s partnership with Tata Steel and other long-term purchase agreements for green hydrogen indicate a growing demand for sustainable energy sources in the country.
However, there are also challenges and controversies associated with green ammonia production. One key challenge is the high upfront capital investment required to establish green ammonia plants. The $2.5 billion investment by Hygenco over three years highlights the significant financial commitment necessary for such projects. Additionally, the availability of renewable energy sources, such as wind or solar power, can impact the overall efficiency and sustainability of green ammonia production.
In terms of current market trends, there is a growing global interest in green ammonia as a potential carbon-neutral fuel and energy carrier. The International Maritime Organization (IMO) has identified ammonia as a potential alternative marine fuel, which could further drive its demand in the international shipping industry. Moreover, green ammonia can also be used in the fertilizer industry, replacing traditional ammonia produced from fossil fuels.
As for forecasts, the market for green ammonia is expected to grow significantly in the coming years. According to a report by Wood Mackenzie, green ammonia production capacity is projected to reach 120 million tonnes per year by 2050. This growth is driven by increasing global efforts to decarbonize various sectors and the rising demand for sustainable alternatives to conventional ammonia.
For more information about Hygenco and their projects, you can visit their official website at https://www.hygenco.in/.