CEO Anurag Jain said the company is investing ₹400 crore in the first phase to produce alkaline electrolysers, which will create 600 jobs in the Gwalior region. The facility’s total capacity is projected at 500 MW of electrolysers and 3 GWh of battery energy storage systems.
GH2 Solar received a ₹157.5 crore subsidy under the PLI scheme in August 2024. It plans to start green hydrogen production at a coastal location in phase two, targeting 10,500 MTPA capacity in 2.5 years. To fund the expansion, the company aims to raise ₹600-800 crore and is considering an IPO by August-September 2026.
The company is also in talks to supply electrolysers for green ammonia tenders and has signed an MoU with KPI Group and AHES in Surat to produce 1 lakh MTPA of green ammonia under a 15-year strategic collaboration. AHES will act as a direct off-taker, with prices linked to international benchmarks.
Calling green hydrogen a technical and labour-intensive sector, Jain said GH2 Solar is running skilling programmes for local youth and expects further cost reduction as government initiatives scale up production.
Also Read: Reliance to develop 5,50,000-acre solar project in Kutch, three times Singapore’s size: Mukesh Ambani
(Edited by : Poonam Behura)
First Published: Sept 1, 2025 2:23 PM IST
