Gujarat Fuels Renewable Energy Capacity Goals by Partnering with International Firms

Gujarat Fuels Renewable Energy Ambitions by Joining Hands with International Firms

Gujarat has signed various MoUs with the intention of accelerating the realization of its renewable energy capacity goals.

The state has joined hands with Australia-based MeOH Giga Battery and Australian Premium Solar Pty Ltd. Australian Premium already has a manufacturing unit in Gujarat to give an impetus to its renewable energy capacity goals.

Indian firms Welspun and Kiri Industries have also joined hands with German firms Lili Navitas and Sundronix. These agreements will pave the way for the export of Green Hydrogen and Green Ammonia from Gujarat to Europe. Lili Navitas claims that it was part of the team that built the first 100% renewable hydrogen plant in Europe. Sundronix is a subsidiary of German logistics service provider, Richter Group. These partnerships are said to help the state further realise its renewable energy capacity goals.

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The agreements follow the land allotment policy announced by the state. This initiative promises multiple advantages to firms that make investments in Gujarat’s Green Hydrogen landscape. The policy stipulates that firms must meet 50% of capacity of green hydrogen production within a period of five years that that the plant is commissioned while 100% capacity has to be achieved within a period of eight years.

Currently, Gujarat accounts for 15 percent share in the country’s renewable energy capacity. The state has emerged as a favourable destination for investment in renewable energy projects with some big-ticket projects springing up here.

The state recently released the Gujarat Renewable Energy Policy 2023, which has chalked out some massive ambitions, including the aspiration to achieve 50% of renewable energy capacity in its energy mix by the end of the decade. It anticipates investments to the tune of INR 5 lakh crores and land utilisation of 500000 acres for renewable energy projects. The States’s potential of 36 GW of solar and 143 GW of wind would be harnessed.