John Cockerill and Greenko Invest ₹2,800 Crore in Cutting-Edge Electrolyser Facility in India

 John Cockerill and Greenko Invest ₹2,800 Crore in Cutting-Edge Electrolyser Facility in India

John Cockerill Group, a Belgium-based engineering company, and its Indian partner, Greenko Group, will invest up to ₹2,800 crore (about $300 million) to build a new electrolyser manufacturing facility in Kakinada, Andhra Pradesh.

World’s Lowest-Cost Electrolyser Production

The plant aims to be the world’s lowest-cost producer of electrolysers and will also serve as an export hub. Francois Michel, CEO of John Cockerill, stated that the facility will have the capacity to assemble and produce about 2 gigawatts of electrolysers each year. This investment is expected to be the largest globally for producing green ammonia and will offer the most cost-effective base for production.

Joint Venture and Incentives

John Cockerill and Greenko signed an agreement in March 2022 to jointly develop green hydrogen and electrolyser technologies in India. Their joint venture, John Cockerill Greenko Hydrogen, recently received production-linked incentives for 300 MW per year and ₹444 crore in support.

Importance of Electrolysers for Green Hydrogen

Electrolysers are used to split water into hydrogen and oxygen using electricity, a process crucial for producing green hydrogen from renewable energy sources. India currently imports most of its electrolysers, so this new plant will help reduce costs and boost local production.

Expansion into Steel, Energy, and Defence

The plant will also focus on steel, energy, and defence sectors, and John Cockerill plans to expand its workforce in India from about 700 to over 2,000 employees in the next two years. The company is also considering export opportunities in West Asia.

Supporting Growth and Net-Zero Targets

John Cockerill’s investment aims to support India’s growth in critical sectors and meet the increasing demand for advanced steel technologies. Despite recent weak steel prices, the company is confident that its investments will support the sector’s growth and help achieve net-zero targets.