Waaree Energies’ wholly owned subsidiary -- Waaree Clean Energy Solutions and Zero Footprint Industries (ZFI) have signed Electrolyzer as a Service (EAAS) Agreement for 2.5 MW Alkaline Electrolyzer for ZFI’s planned capacity addition for Green Hydrogen in Uttar Pradesh (U.P.) and entered into a Strategic Memorandum of Understanding (MoU) to supply 50 MW of electrolyzers through EAAS route for its multiple decentralised small green hydrogen projects across Northen India, marking a significant step in the acceleration of the green hydrogen economy for not only U.P. but also India.
Under the terms of this innovative agreement, Waaree Clean Energy Solutions will design, engineer, supply, install, commission, own & operate a 2.5 MW alkaline electrolyzer system to be manufactured at its Dungri plant in Gujarat and supply hydrogen and oxygen to ZFI for its expansion in U.P. under a long-term contract of 15 years. This project aims to produce around 41 lakh Nm3 of green hydrogen and around 20 lakh Nm3 of green oxygen annually, primarily for ZFI’s existing customers across mentha oil, chemical, steel and pharma industries helping them with economical (cost neutral as the case may be) transition from existing grey hydrogen to green hydrogen, thereby contributing uniquely to India’s Net Zero movement.
Waaree Energies is primarily engaged in the business of manufacture of solar photo-voltaic modules, setting up of projects in solar space and sale of electricity.
| Company Name | CMP |
|---|---|
| Havells India | 1282.10 |
| Siemens | 3390.10 |
| Apar Inds | 11349.45 |
| Waaree Energies | 3281.55 |
| ABB India | 6865.95 |
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