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Posco Holdings, one of the leading Korean steelmakers, and Greenkco subsidiary ZeroC have entered into a strategic partnership for producing Green Hydrogen, Ammonia and related derivatives in India for both the domestic and export markets.
The partnership will also jointly develop solar and wind power using Greenko’s pumped hydro storage platform, and Energy Storage Cloud, said the company. This will supply continuous renewable power to the Green Ammonia plants and take advantage of Posco’s hydrogen and ammonia expertise, it added.
The Greenko project pipeline has a net capacity of 7.5GW in 15 states. It also includes close to 100 GWh pumped hydro storage, which allows Round-the-Clock RE Power and pioneering forays into the Green Molecules industry, which includes a Giga-Watt electrolyzer plant in India. The companies will explore joint business opportunities in India for competitive renewable energy production, India’s supply of ammonia/ green hydrogen to Posco Holdings and India’s export and use Posco steel materials for infrastructure development.
The partnership will propel the transformation of India from a carbon-based fossil energy importer to an exporter of renewable energy derived products like Green Hydrogen, Green Ammonia and Green Molecules, said Anil Kumar Chalamalasetty, Managing Director, Greenko.
Chou, Executive Vice-President (Hydrogen), Posco said India is one of the most strategic hydrogen production hubs due to its ample renewable energy sources, coupled with progressive government policies.
Greenko is the right partner for Green Hydrogen and Ammonia, due to their ability to provide ‘Round the Clock’ renewable energy, coupled with local electrolysers. “We would like to enhance cooperation to produce Green Ammonia and Hydrogen for the export market in Asia and Europe,” he added.