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the company plans to start green hydrogen production at a coastal site, targeting 10,500 MTPA capacity in 2.5 years. To fund this, it aims to raise ₹600–800 crore and is eyeing an IPO by August or September 2026.
GH2 Solar, a beneficiary of the government’s Production Linked Incentive (PLI) scheme, is setting up a 105 MW electrolyser manufacturing facility in Morena, Madhya Pradesh, with support from its South Korean technology partner AHES, the company's Chief Executive, Anurag Jain, told CNBC-TV18.
Jain said the company will invest ₹400 crore in the first phase to produce alkaline electrolysers, creating about 600 jobs in the Gwalior region. The facility’s total capacity is projected at 500 MW in electrolysers and 3 GWh in battery energy storage systems.
GH2 Solar received a ₹157.5 crore subsidy under the PLI scheme for electrolyser manufacturing in August 2024.
As part of its second phase, the company plans to start green hydrogen production at a coastal site, targeting 10,500 MTPA capacity in 2.5 years. To fund this, it aims to raise ₹600–800 crore and is eyeing an IPO by August or September 2026.
The company is also in talks to provide electrolyser solutions for green ammonia tenders and will sign an MoU with KPI Group in Surat on Saturday to produce 1 lakh MT of green ammonia.
Calling green hydrogen a technical and labour-intensive sector, Jain said GH2 is running skilling programmes for local youth and expects costs to fall as government support and larger projects scale up.
(Edited by : Poonam Behura)
