PTC India, Greenstat ink pact to develop green hydrogen solutions

PTC India Ltd on Friday said it has signed a pact with Greenstat Hydrogen India Pvt Ltd to jointly develop green hydrogen solutions for Indian power market beneficiaries.

Greenstat Hydrogen India Pvt Ltd (GHIPL) is a subsidiary of Norwegian energy company Greenstat ASA, PTC India said in a statement.

"PTC India and Greenstat Hydrogen India have entered into a MoU with purpose of joint development of green hydrogen solutions for Indian power market beneficiaries. Under this MoU, both will jointly work towards development of green hydrogen projects in India," it said.

The areas of development shall include feasibility studies and/or project management services for green hydrogen solutions to potential beneficiaries in India.

Both PTC and GHIPL will also work towards identifying opportunities for development of a centre of excellence for facilitation of green hydrogen in India.

"Green hydrogen has huge potential to meet the future energy demand sustainably and also support the transition to net zero economy. Under this association, PTC and Greenstat would play an important role in adoption of green hydrogen in India," Rajib K Mishra, CMD, PTC India, said.