Technip Energies Partners With Greenko Group to Accelerate Green Hydrogen Development in India
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PARIS--(BUSINESS WIRE)-- Technip Energies (PARIS:TE) and Greenko ZeroC Private Ltd have signed a Memorandum of Understanding (MoU) to explore Green Hydrogen project development opportunities across industries including refining, petrochemicals, fertilizer, chemical and power plant sectors in India to accelerate Energy Transition in the country.
The MoU aims to facilitate active engagement between the teams of Technip Energies in India and Greenko to step up collaborative opportunities on a “Build-Own-Operate (BOO)” model – in which Greenko will be the BOO operator and owner of the asset and Technip Energies will support with Engineering services, Integration and EP/EPC – for pilot and commercial scale Green Hydrogen and related projects in India in order to offer economically feasible technology solutions to clients.
Both entities bring complementary skills and added-value to this partnership – Technip Energies with its Hydrogen expertise, Integration capabilities, EPC project management skills and regional footprint, and Greenko with its technological know-how, expertise and assets in renewable energy, which span solar, wind and hydro.
Davendra Kumar, Senior Vice President Deputy One T.EN Delivery and MD India at Technip Energies, commented: “We strongly believe in collaboration to realize our Energy Transition objectives. Our strategic partnership with Greenko reinforces our commitment to deliver a low carbon future, leveraging decades of expertise in feasibility studies, EPC and technology know-how to support Green Hydrogen and associated projects."
Gautam Reddy, COO, Greenko ZeroC, said: “Energy Transition is key for India in its fight against climate change and quest for energy independence. Greenko has an established expertise and asset base in RE generation & storage alongside investments in electrolyzer technology. With these strengths, our tie-up with a world class Engineering & Technology company like Technip Energies enables the partnership to deliver optimal, expedited, large scale carbon neutral solutions that India needs."
To know more about Technip Energies’ capabilities in green hydrogen:
Technip Energies is ready to lead the hydrogen wave in both decarbonized and carbon-free applications. With our 50-year track record in the sector, we are leveraging our expertise, proprietary technologies, wide-ranging partnerships and execution excellence to accelerate the energy transition and our commitment to a low-carbon society.
Learn more on: https://www.technipenergies.com/markets/hydrogen
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) traded over-the-counter in the United States. For further information: www.technipenergies.com.
Greenko Group has an installed capacity base of 7.3 GW across solar, wind and hydro generation technologies spread over ~100+ projects across 15 states and delivering 20+ Bn units of renewable energy annually across the country constituting ~1.5-2% of total India electricity needs.
Greenko Group, one of the World’s largest clean energy & energy storage company, is focused on enabling carbon neutral solutions to achieve net zero goals of corporates and global economies at scale through its intelligent energy platforms and green hydrogen production systems. Greenko plans to deliver lowest cost energy storage solutions with its planned 100 GWh digital cloud storage platform of which 50 GWh Phase 1 would be operational by 2025. This will enable integration of significant planned renewable capacities into the Indian grid and deep industrial decarbonization.
The group is committed towards transforming renewable energy from intermittent and inflexible energy to firm, dispatchable and on-demand energy controlled through digitization and long duration storage solutions to support the economy-wide shift towards a carbon-neutral energy mix in the Country. As part of the hydrogen strategy, Greenko will also invest in developing 1 MTPA ammonia production facility to enable production of green ammonia in the next financial year.
Important Information for Investors and Securityholders
This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook,” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates.
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