Hygenco Green Energies with JICA support has finalised MOU with Mitsubishi Power for Green Hydrogen/Ammonia-Fired GTCC Power Plants

NEW DELHI, Aug. 8, 2024 /PRNewswire/ -- Hygenco Green Energies has signed a memorandum of understanding (MoU) with Mitsubishi Power to explore the possibility of delivering green hydrogen/ammonia-fired gas turbine combined cycle (GTCC) power plants. This MoU aims to provide these integrated solutions in India and internationally.

Indo-Japan cooperation on energy security and green ammonia exemplifies strategic partnership aimed at fostering sustainable development and reducing emissions through technology exchange and collaborative investments.

Speaking of this occasion, Mr. SAITO Mitsunori, Chief Representative, JICA India, stated, "JICA is committed to supporting the development of green hydrogen technologies. This collaboration between Hygenco and MHI exemplifies the international cooperation needed to address climate change and promote sustainable growth. JICA will continuously support this partnership and looking forward to delivering the impact brought JICA - Neev Fund co-creation platform"

Hygenco will supply green fuel for MPW's GTCC technology to the potential Customers. The company will develop and deploy scaled-up, commercially viable green hydrogen and green ammonia production assets on a build-own-operate or gas-as-a-service basis.

"The collaboration will synergize Hygenco's green fuel supply with Mitsubishi Power's technology in India and globally, embodying the spirit of Vasudhaiva Kutumbakam–the world is one family" stated Mr. Amit Bansal, CEO, Hygenco."We are excited to leverage our expertise in green hydrogen and ammonia to support the decarbonization of power generation and contribute to a sustainable energy future."

"We believe this partnership will pave the way for innovative and sustainable energy solutions," said Mr. Prem Prabhakar, MD&CEO, SBI Ventures Limited – that manages Neev II Fund which is an investor in Hygenco. "Investing in green hydrogen and ammonia production is crucial for India's energy security, energy transition, and environmental goals."

Mitsubishi Power is developing hydrogen and ammonia firing technologies to decarbonize existing GTCC plants by converting their fuel from natural gas to hydrogen/ammonia. The company has been involved in multiple projects worldwide.

About Hygenco Green Energies

Hygenco is a leading developer of green hydrogen and green ammonia projects. The company focuses on providing sustainable and commercially viable green fuel solutions to various industries, contributing to the global energy transition.

About Mitsubishi Heavy Industries

Mitsubishi Heavy Industries, Ltd. is a global leader in engineering and manufacturing. MHI provides innovative solutions across various sectors, including energy, aerospace, and machinery etc. Mitsubishi Power, a subsidiary of MHI, specializes in power generation technologies and is at the forefront of hydrogen-firing technology development.

About JICA

Established, by a specific law, as an incorporated administrative institution under the Government of Japan, the Japan International Cooperation Agency aims to contribute to the promotion of international cooperation, as a sole Japanese governmental agency in charge of ODA implementation. JICA is the world's largest bilateral donor agency. JICA works as a bridge between Japan and emerging countries, and provides assistance in forms of loan, grant and technical cooperation so that the emerging countries can strengthen their capabilities.

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