Government Support Through PLI Scheme
In August 2024, GH2 Solar received ₹157.5 crore under the PLI scheme for electrolyser manufacturing. This initiative is part of India’s National Green Hydrogen Mission, which encourages domestic companies to build manufacturing capacity in critical energy technologies.
According to CEO Anurag Jain, this subsidy has played a key role in reducing capital costs and enabling the company to take its first big step into commercial-scale electrolyser production. He added that government support and larger projects will help bring down costs as the sector scales up.
Green Hydrogen Expansion and IPO Plans
As part of its second growth phase, GH2 Solar will begin green hydrogen production at a coastal site, targeting 10,500 metric tonnes per annum (MTPA) within the next 2.5 years. To fund this expansion, the company plans to raise ₹600–800 crore through a mix of private funding and an Initial Public Offering (IPO) expected around August or September 2026.
The company is also exploring opportunities in green ammonia. GH2 Solar is set to sign a memorandum of understanding (MoU) with KPI Group in Surat to jointly produce 1 lakh MT of green ammonia, a crucial input for clean fuels and fertilizers.
Boosting Jobs and Skills
Calling green hydrogen a highly technical and labour-intensive sector, Jain stressed that the company is running skilling programmes to train local youth for specialised jobs in the energy industry. Around 600 direct jobs are expected to be created in Morena, with many more indirect employment opportunities in the supply chain.
The company believes that building domestic expertise in electrolyser and hydrogen technology will not only strengthen India’s energy independence but also position the country as a global hub for clean energy manufacturing.
