"Gensol Engineering & Matrix Gas Consortium Secures PLI Bid for Hydrogen Electrolyser Manufacturing"

Gensol Engineering Ltd. (BSE: 542851) (NSE: GENSOL), renowned for its sustainable energy solutions, in partnership with Matrix Gas & Renewables Ltd., a leading green hydrogen infrastructure developer and natural gas aggregator, has unveiled plans for an advanced Electrolyser Plant. This initiative, facilitated under the Sustainable Hydrogen Innovation & Green Hydrogen Technologies (SIGHT) program, marks a significant stride towards India's commitment to green hydrogen as a cornerstone of its decarbonization strategy and net-zero emission goal.

The project, awarded under the SIGHT PLI Scheme's Tranche-I, boasts a manufacturing capacity of 63 MW per annum. Positioned strategically, it is poised to make a substantial contribution to India's ambitious target of producing 5 million metric tons of green hydrogen annually by 2030. This endeavor aligns seamlessly with the national Green Hydrogen Mission, bolstered by the Production Linked Incentive (PLI) scheme, signifying the collective pursuit of net-zero emissions and sustainable development.

The selection of Gensol and Matrix for the Manufacturing Capacity under the SIGHT PLI Scheme's Tranche-I underscores their unwavering dedication to the renewable energy landscape. It solidifies their position as comprehensive green hydrogen solutions providers and enhances their technical prowess, opening new avenues for growth and partnerships within the renewable energy domain.

Mr. Ali Imran Naqvi, CEO (EPC Business) of Gensol Engineering Ltd., expressed gratitude for the trust bestowed by the Government of India and stakeholders. He emphasized the milestone's significance, highlighting Gensol's commitment to India's green hydrogen mission and its role in driving global decarbonization efforts.

Mr. Chirag Kotecha, Whole-time Director at Matrix Gas and Renewables Limited, echoed Naqvi's sentiments, noting the consortium's privilege in being chosen for this distinguished project. He emphasized the consortium's technological expertise and manufacturing experience, positioning it as a pivotal player in India's green hydrogen development.

Both Gensol and Matrix, promoted by common promoters, reaffirmed their commitment to collaboration in the Green Hydrogen domain. Leveraging their collective skill sets, they aim to establish a state-of-the-art Electrolyser manufacturing facility, propelling India towards a sustainable, low-carbon future.

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