India revises list of electrolyser subsidy winners

Following Jindal’s exit from the process, production-linked incentives have been re-allocated to Larsen & Toubro and Matrix Gas and Renewables

Inside of Laren & Toubro's A. M. Naik Heavy Engineering Complex, where the firm plans to establish an electrolyser gigafactory
Inside of Laren & Toubro's A. M. Naik Heavy Engineering Complex, where the firm plans to establish an electrolyser gigafactoryPhoto: Larsen & Toubro

The Indian government has revised its list of winners for the first auction for electrolyser manufacturing subsidies, originally announced in January, after steelmaker Jindal — which had won incentives for 300MW of annual manufacturing capacity — dropped out of the process.

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According to anonymous sources cited by local newspaper Mint in early February, Jindal had missed a deadline on 3 February for bank guarantees needed before the government could sign off on the production-linked incentives.
This left 300MW per year of manufacturing capacity, with a maximum incentive of 4.44 billion rupees ($53.5m), to be redistributed among bidders (see table below).

Engineering company Larsen & Toubro, which had in January seen its 300MW/year bid partially awarded to cover 63MW/year, has now been awarded production-linked incentives for its full bid.

Meanwhile, Matrix Gas and Renewables, which had been left off the original winners’ list, has now been allocated subsidies for 63MW/year of its 105MW/year bid, worth up to 932.4m rupees.

Awards for a separate block of funding — for “indigenously developed” technology (rather than intellectual property licensed from abroad, such as L&T’s use of McPhy tech) — did not change, as that had already been fully allocated.

Revised list of winners for electrolyser manufacturing subsidies in India’s first auction

Company

Bid capacity (MW/year)

Awarded capacity (MW/year)

Maximum incentive allocation (million rupees/year)

Reliance Electrolyser Manufacturing Limited

300

300

4,440

Ohmium Operations Private Limited

137

137

2,027.6

John Cockerill Greenko Hydrogen Solutions Private Limited

300

300

4,440

Advait Infratech Limited

100

100

1,480

L&T Electrolysers Limited

300

300

4,440

Matrix Gas and Renewables Limited

105

63

932.4

Homihydrogen Private Limited*

101.5

101.5

1,502.2

Adani New Industries Limited*

300

198.5

2,937.8

Source: Solar Energy Corporation of India
* Awarded funding specifically allocated for indigenously-developed electrolyser technology


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Published 4 March 2024, 15:39Updated 4 March 2024, 15:39