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Welspun and Gujarat Pipavav Port Join Forces at Vibrant Gujarat Summit for Green Hydrogen Venture

11 Jan 2024 , 11:49 AM

Welspun New Energy Limited (WNEL) and Gujarat Pipavav Port Limited (GPPL) signed an MoU on January 10 at the Vibrant Gujarat Global Summit 2024.

The collaboration aims to explore and develop green hydrogen facilities for hydrogen production on a land parcel provided by GPPL.

The MoU facilitates joint production and off-take arrangements for green molecules produced at the facilities, with Gujarat Pipavav Port, promoted by APM Terminals, being part of the venture.

Kapil Maheshwari, CEO of Welspun New Energy, highlighted the focus on creating an ecosystem for GPPL’s sustainability transition through Green Ammonia and Green Methanol. The initiative also aims to position Pipavav Port as a global Green Shipping Line.

Welspun New Energy, under Welspun World, plans to invest over Rs 40,000 crores in building a green hydrogen and green ammonia ecosystem in Gujarat, supporting the state’s decarbonization goals.

WNEL has received in-principle approval from the government of Gujarat for developing renewable energy on approximately 20,000 acres of land for green hydrogen production.

In advanced stages, WNEL is developing around 1,000 MW of renewable energy projects for leading manufacturing units in Gujarat, with MoUs signed for the export of domestically produced green molecules.

The MoU signing at the Vibrant Gujarat Global Summit 2024 aligns with the state’s vision for a robust power infrastructure and emphasizes Welspun’s commitment to decarbonize the entire value chain.

This significant step reflects Welspun’s dedication to transitioning to sustainable fuel sources, contributing to the overall sustainability goals, as stated in a press release by WNEL.

The MoU was signed during the 10th edition of the Vibrant Gujarat Global Summit 2024, inaugurated by Prime Minister Narendra Modi.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • GPPL
  • Green Hydrogen
  • Green Hydrogen Venture
  • Gujarat Pipavav Port
  • Welspun
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