POSCO, Greenko Collaborate to Produce Green Hydrogen, Ammonia in India

Global steel conglomerate POSCO Holdings and Greenko subsidiary ZeroC have announced that they have signed a strategic partnership under which the two companies will delve into the production of green hydrogen, ammonia and other derivatives in India. The renewable energy production will be meant for both domestic and foreign consumption.

POSCO Holdings revealed that the new collaboration with Greenko will entail solar and wind capacities will be developed by the two players towards the employment of the pumped hydro storage platform and energy storage cloud that belongs to Greenko. This is to enable supply of green energy to power a green ammonia plant where POSCO’s hydrogen and ammonia experience and expertise will be leveraged.

Anil Kumar Chalamalasetty, CEO and MD, Greenko, said, “We are excited to be partnering with POSCO, this pioneering partnership will propel the transformation of India from a carbon-based fossil energy importer to an exporter of Renewable Energy derived products like Green Hydrogen, Green Ammonia and Green Molecules.”

The Greenko CEO also added, “Greenko’s Intelligent Renewable Energy Storage Platform (IRESP) will enable Hon’ble PM Shri Modi Ji’s vision of India’s leadership in the global efforts to combat Climate Change, and establish us as reliable, sustainable source of low cost green ammonia and green molecules to catalyse India’s and the world’s decarbonisation.”

Cho Joo-ik, Executive VP for Hydrogen Business, POSCO, stated, “We also believe Greenko is right partner for Green Hydrogen and Ammonia due to their ability to provide ‘Round the Clock’ renewable energy coupled with local electrolysers. He would like to enhance cooperation to produce Green Ammonia and Hydrogen for export market in Asia and Europe.”

The two companies signed a MoU at a trade fair in Seoul, South Korea. A feasibility study will be carried out by both POSCO and Greenko to discover a good site by the end of this year for green hydrogen production.

Greenko has also signed an agreement with John Cockerill of Belgium to form a joint venture with equal shares for the construction of two alkaline electrolyzer factories of one gigawatt each in India for the production of hydrogen for industrial users that will cost lowest. At present, Greenko operates nearly 7.5 GW of renewable energy facilities in India.

India had recently unveiled its National Hydrogen Mission with an aim to cut the CO2 emissions and emerge as a hydrogen hotspot for both domestic supply and export purposes.  The country wants to produce 5 million tonnes of green hydrogen every year by the end of this decade.