POSCO Holdings to Collaborate with India's Second-Largest Renewable Energy Company for 'Green Hydrogen' Production

Agreement on Joint Development of Green Hydrogen and Ammonia Production Project
GreenCo Capable of 24-Hour Supply of Green Power Required for Hydrogen Production

POSCO Holdings signed a hydrogen business memorandum of understanding (MOU) with Greenko, India's second-largest renewable energy company, on the 1st. (From the third person on the left) Gautam Reddy Kumbam, COO of Greenko's Renewable Energy Division, and Jo Ju-ik, Head of POSCO Holdings' Hydrogen Business Promotion Team, are posing for a commemorative photo after signing the MOU. Photo by POSCO Holdings

[Asia Economy Reporter Choi Seoyoon] POSCO Holdings is advancing a green hydrogen production project in collaboration with Greenko, India’s second-largest renewable energy specialist company.

On the 1st, at H2 MEET held at KINTEX in Ilsan, POSCO Holdings’ Head of Hydrogen Business Promotion Division, Jo Ju-ik, and Greenko’s Chief Operating Officer (COO) of Renewable Energy Division, Gautam Reddy Kumbam, attended and signed a bilateral Memorandum of Understanding (MOU) for cooperation in green hydrogen and ammonia business.

With the signing of this MOU, both companies plan to promote green hydrogen and ammonia production projects in India based on renewable energy and pumped storage power generation.

Greenko is the second-largest renewable energy company in India, invested by Singapore Investment Corporation (GIC) and Abu Dhabi Investment Authority (ADIA), with renewable energy facilities totaling 7.2GW. Greenko focuses on a business model that maximizes the use of renewable energy such as wind and solar power through pumped storage power generation to supply green electricity at competitive prices.

Jo Ju-ik, Head of Hydrogen Business Promotion Division at POSCO Holdings, stated, “India is preparing active hydrogen economy support policies, making it one of the strategic production bases for POSCO Group, which is developing large-scale overseas green hydrogen projects. Through cooperation between the two companies, we will successfully establish a green hydrogen production model in India and prepare to supply green hydrogen and ammonia needed in domestic and European regions in the future.”

Gautam Reddy Kumbam, COO of Renewable Energy Division at Greenko, said, “Greenko can supply green electricity required for hydrogen production stably 24 hours a day through a business model linking renewable energy and pumped storage power generation. We expect to create synergy in green hydrogen and ammonia production through cooperation between the two companies.”

After signing this MOU, both companies plan to identify suitable project sites within the year and begin feasibility studies for the green hydrogen project.

This content was produced with the assistance of AI translation services.