Gandhinagar: Abu Dhabi-headquartered energy major Ocior Energy on Monday committed a whopping Rs 40,000 crore investment in Gujarat with green-hydrogen and green ammonia projects among its other renewable energy-plans in the State.
The firm signed a Memorandum of Understanding (MoU) with the Gujarat Government in the presence of Chief Minister Bhupendra Patel and Ocior’s CEO Ranjit Gupta.
Project to begin in 2030
According to the Gujarat Government, the company is expected to get into production by the end of 2030 and will develop its projects in two phases.
Ocior Energy officials stated that going further, their upcoming projects will also help Gujarat export green ammonia and that the renewable energyprojects would generate more than 10,400 direct and indirect employment opportunities. Once the projects are operationalised, they will produce about 1 million tonnes of green ammonia every year.
About Ocior
Ocior is based in Abu Dhabi Global Market free zone (ADGM) and the firmdelves 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.
PM Modi's promise for Gujarat
Prime Minister Narendra Modi had recently stated that Gujarat was slated to become world’s biggest green hydrogen hub as it is expected to attract investments worth Rs 8-10 lakh crore globally.
It may be recalled that in December, 2022, Delhi-based Greenzo EnergyIndia 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 in Surat.
