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Posco and Greenko collaborate to produce green hydrogen

According to a news release from the firms, the cooperation will also look into options for the production of renewable energy in India and the use of steel products from Posco in the construction of infrastructure for possible projects.

September 02, 2022 8:21 IST | India Infoline News Service

In order to sell green hydrogen/ammonia to Posco Holdings as well as jointly produce and export green hydrogen/ammonia in export-oriented special economic zones, the Korean steel manufacturer Posco Holdings has teamed with Greenko ZeroC (GZC), a division of the Greenko Group and John Cockerill.

According to a news release from the firms, the cooperation will also look into options for the production of renewable energy in India and the use of steel products from Posco in the construction of infrastructure for possible projects.

One of the biggest producers of steel in the world, Posco, has stated that it intends to become carbon neutral by the year 2050 and is investigating and developing business models for hydrogen.

With a net installed capacity of 7.5 GW across 15 states in India, the renewable energy company Greenko is replacing fossil fuels with integrated decarbonized energy and infrastructure assets that enable sustainable and cheap electricity.

A gigawatt-capacity electrolyzer facility in India and almost 100 GWh of pumped hydro storage projects, which provide 24/7 RE electricity, are among the development pipeline's inclusions.

Greenko partnered with Hindalco Industries, the metal division of the Aditya Birla Group, this month to establish a renewable energy project for the provision of 100 MW of continuous carbon-free power. Additionally, the two businesses will collaborate to create a 375–400 MW solar and wind power capacity. The undertaking is consistent with Hindalco's goal to achieve net carbon neutrality by 2050.

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