Ocior Energy in MoU with Gujarat to Invest Rs 40,000 Cr in Green Hydrogen, Ammonia

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The Government of Gujarat today signed a memorandum of understanding (MoU) with Abu Dhabi (United Arab Emirates) headquartered Ocior Energy Pvt Ltd for Rs. 40,000 crores proposed investment in the state in the renewable energy capacities. As per the government statement, Ocior Energy will be developing green hydrogen-green ammonia projects among other renewable energy plans. The project is expected to get into operations by the end of this decade (2030). Ocior will be developing the RE projects in two phases.

The Memorandum of Understanding (MoU) was signed in the presence of Bhupendra Patel, Chief Minister of Gujarat and Ranjit Gupta, Chief Executive Officer (CEO) of Ocior Energy.

Ocior Energy held that the upcoming projects will also help Gujarat to export green ammonia.

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The development of the proposed renewable energy projects will lead to the creation of more than 10,400 direct and indirect employment opportunities. Once the projects are operationalised, they will be generating about 1 million tonnes of green ammonia every year.

Ocior is based in Abu Dhabi Global Market free zone(ADGM) and the firm delves specifically in green hydrogen and green ammonia. It has the objective to develop green hydrogen and green ammonia projects having a capacity 4-GW in India, Central East, and North Africa.

Recently, Prime Minister Narendra Modi held that Gujarat is poised to become the world’s biggest green hydrogen hub as it will ring in investments worth Rs 8-10 lakh crore globally.

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In December, 2022, Delhi based Greenzo Energy India revealed plans to invest $50 million in the construction of a 250 MW electrolyser manufacturing plant and the Balance of Plant (BoP) for producing green hydrogen at Sanand-II Industrial Estate in Gujarat.

Larsen & Toubro (L&T) Hi-Tech Manufacturing and Services also announced the completion of a Green Hydrogen Plant last year at its AM Naik Heavy Engineering Complex in Hazira.