Ayana, Greenstat to Jointly Develop Green Hydrogen Projects in India

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Ayana Renewable Power (Ayana) and Greenstat Hydrogen India have entered into a Joint Development Agreement (JDA) for the development of green hydrogen projects in India. Green Hydrogen is powered by renewable energy in the electrolysis process.

Ayana Renewable Power is backed by National Investment and Infrastructure Fund (NIIF) and Greenstat Hydrogen India is a subsidiary of Norway based Greenstat ASA. Under this partnership, the companies will develop large scale green hydrogen solutions, to provide long term supply of green hydrogen to industrial and commercial customers in India.

Ayana and Greenstat will launch an initial green hydrogen pilot project in Karnataka. This partnership supports the National Hydrogen Mission with an aim to make India a global hub for green hydrogen production. It will also focus on exports of green hydrogen.

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Shivanand Nimbargi, Chief Executive Officer and Managing Director, Ayana said, “By 2050, India aims to produce three fourth of its hydrogen from renewable energy source. Ayana and Greenstat being specialists in their respective domains, carry the right expertise to facilitate this growth.”

Commenting on the collaboration, Sturle Pedersen, Chairman of Greenstat Hydrogen India added, “It is with great joy and expectations that Greenstat looks forward to a long-term and fruitful collaboration with Ayana. Together, we strongly believe that strong measures are needed to succeed in the transition from fossil to renewable energy, and green hydrogen molecules will be a key factor in the energy transformation. We strongly believe that cooperation between our companies will have significant contribution to this green shift.”

Bengaluru based Ayana Renewable Power is one of the largest renewable energy companies in India majority owned by NIIF and other key shareholders are British International Investment (formerly CDC Group), the UK’s development finance institution, and EverSource Capital managed Green Growth Equity Fund (GGEF). Ayana is presently involved in the development and management of more than 3.59 GWac of solar, wind and hybrid power projects in several Indian states. Ayana has an operational capacity of 1.19 GWac of renewable energy projects in Andhra Pradesh, Karnataka and Rajasthan.

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Greenstat Hydrogen India works exclusively with green projects that contribute to a transition from fossil to renewable energy use. To help fuel the green economy and create green jobs, Greenstat owns and operates green hydrogen facilities, alone or in partnership with other stakeholders.