Page 140 - CW E-Magazine (2-1-2024)

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RENEWABLE ENERGY
34 fi rms bid for green hydrogen, electrolyser incentives

Reliance Industries Ltd., JSW Energy Undertaking (CPSU) under the admini- invited 0.45-mtpa, the statements
Ltd., Torrent Power Ltd. and Bharat strative jurisdiction of the Ministry of showed. For an invitation to set up 1.5-
Petroleum Corporation Ltd. are among New and Renewable Energy (MNRE). GW of electrolyser manufacturing capac-
14 companies that have bid for incentives Its primary objective is to facilitate the ity, bids for 3.4-GW were received, the
under India’s Green Hydrogen Mission, execution of the National Solar Mission statements showed.
according to a government agency. (NSM) and its specifi ed targets. SECI is
the sole CPSU dedicated to the renewable The subsidies cover the fi rst three
Twenty companies including energy sector. years of production output, offering up to
Reliance Industries, Adani Group, Jindal Rs. 50 ($0.6) a kilogram for the fi rst year,
India Ltd. , Larsen & Toubro Ltd. and In July 2023, the government invited Rs. 40 ($0.48) in the second year, and
Bharat Heavy Electricals Ltd. have also pilot bids under its $2-bn programme to Rs. 30 ($0.36) a kilogram in the third year.
submitted bids for incentives to manu- incentivise production of green hydrogen
facture electrolysers, statements from and manufacturing of electrolysers. Bids India aims to reach 5-mt in annual
Solar Energy Corp of India (SECI) said. for 0.55-mtpa of green hydrogen pro- green hydrogen production capacity by
SECI operates as a Central Public Sector duction have been received against the 2030.

LONG-TERM LENDING
EIB announces $40-mn for PE fund supporting

digitalisation of Indian SMEs

The European Investment Bank The fund will support investments companies to strengthen their existing
(EIB), the long-term lending institution in Indian small and medium-sized technology infrastructure, and helping
of the European Union, has announced enterprises (SMEs) operating in various management design clear digitalisation
an investment of $40-mn in the private economic sectors. roadmaps to boost digital transforma-
equity (PE) fund, Amicus Capital Part- tion in conventional businesses.
ners II. The fund seeks to leverage digital-
isation and technology to overcome Amicus Capital Partners Fund II
Mr. Kris Peeters, Vice-President geographic limitations and facilitate will also help local businesses expand,
of EIB and Mr. Mahesh Parasuraman, deeper market penetration. It does this providing goods and services to under-
Partner and Co-founder of Amicus by prioritising investments in digi- served regions and populations and fos-
Capital inked the deal. tal-fi rst business models, working with tering sustainable, inclusive growth.
Anupam Rasayan inks LoI worth over Rs. 500-crore with

Japanese fi rm

Surat-based custom synthesis & spe- The company said the product would electronic devices, and high-performance
ciality chemicals fi rm, Anupam Rasayan be manufactured in their existing and industrial machinery. As we are fully
Ltd., has signed Letter of Intent (LoI) new multi-purpose manufacturing facili- backward integrated for this molecule,
worth revenue of $61-mn (around Rs. ties. Speaking about the LoI, Mr. Anand we can provide supply chain assurance
507-crore) for next nine years with a lead- Desai, Managing Director of Anupam to the customer without dependencies
ing Japanese chemicals company to sup- Rasayan, said, “This molecule will be uti- on supplies from other geographies. The
ply a “new age polymer intermediate.” lised as an intermediate for thermoplastic signing of this LOI represents a signifi -
The supply will commence in CY2024. polymers, which fi nd uses in structural cant milestone for us, further cementing
The names of the Japanese fi rm and the materials in aerospace industry, semi- our position as a trusted provider of high-
product to be supplied were not disclosed. conductor process material, electrical & end polymer intermediates.”

140 Chemical Weekly January 2, 2024

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