John Cockerill to Fund rs 2,800 crore on electrolyser manufacturing plant

John Cockerill Group and its Indian partner Greenko Group will fund up to ₹300 million, or about ₹2,800 crore, on their electrolyser manufacturing facility being set up in Kakinada, Andhra Pradesh, a senior official of the Belgium-headquartered engineering firm said.

Francois Michel, chief executive of John Cockerill Group, stated that the goal is to become the most affordable producer of electrolysers and intends to utilize the India facility as an export center. He also mentioned that the company aims to increase its presence in steel, energy, and defense sectors, as well as grow its workforce threefold within two years.

"We would be able to assemble and then produce fully about 2 gigawatts of electrolysers a year," Michel said, adding that it is the largest investment in the world to produce green ammonia and will be also the cheapest base in the world by far. "We are confident in our technology to bring it to the lowest cost as fast as possible."

In March 2022, Greenko and John Cockerill agreed to collaborate exclusively on market development efforts for green hydrogen and electrolysers in India. In January, the collaboration between John Cockerill and Greenko Hydrogen secured the electrolyser production-linked incentive for 300 MW per year and a ₹444 crore incentive.

Electrolysis is the process in which water is separated into oxygen and hydrogen by using electricity through electrolysers. Green hydrogen is a gas produced through electrolysis using renewable energy sources and is crucial for reducing carbon emissions in industries.

India depends on the international market for acquiring electrolysers for its green hydrogen initiatives. In order to address this issue and lower the expenses of producing green hydrogen, the Solar Energy Corporation of India released a tender for choosing electrolyzer producers to establish 1.5 gigawatts (GW) of capacity by July 2023.