Gujarat’s green energy and particularly green hydrogen sector is set for an investment surge at Vibrant Gujarat Global Summit (VGGS) 2024.
According to state government officials, big ticket investments from Europe are on the cards in the green hydrogen sector.
Rahul Gupta, managing director of Gujarat Industrial Development Corporation (GIDC), said, “Players from Germany and Denmark have expressed interest in buying green ammonia from Indian players and MoUs are expected on these lines. We expect investments in all phases of the manufacture of green hydrogen such as electrolysers, solar panels, ACC batteries and green hydrogen and ammonia.”
Business-to-business MoUs have been inked between two major Gujarat-based players — Welspun Group and Kiri Industries — and German companies for procurement of methanol.
Gujarat is the frontrunner state in developing a green hydrogen ecosystem, having introduced a dedicated policy to draw investments. Key players from Gujarat such as Reliance Industries, Adani Group, Welspun Group and Torrent Group have got approval from the government and land has already been earmarked.
Gupta also said that investment commitments are expected in the green hydrogen ecosystem, electric vehicles and space technology. “The summit seminars have also been planned accordingly. The government is also pushing for establishment of sector-specific parks with specialized infrastructure to enable industrial units to reduce capital and operational expenditure,” Gupta added.
