Gensol Engineering said that the company, in collaboration with Matrix Gas & Renewables, has emerged as the lowest bidder for EPC for developing India's first Bio-Hydrogen project for India's leading power generation company.
Matrix Gas & Renewables is a fast growing green hydrogen infrastructure developer and natural gas aggregator.
The aforementioned project, which will be established by Gensol Matrix consortium, will convert 25 tons of bio-waste into 1 ton of hydrogen per day. The project valued at Rs 164 crore, scheduled for completion within 18 months, marks a significant milestone on aligning with the National Green Hydrogen Mission for biomass to green hydrogen generation.
The company has strategically partnered with Westinghouse, USA who has patented technology and has commissioned multiple plants globally.
The scope of work includes developing the establishment of 25 tons per day (TPD) bio-waste processing and producing 1 TPD green hydrogen infrastructure from pre-gasification plasma induced radiant energy-based gasification system (GH2-PREGS) technology.
Anmol Singh Jaggi, chairman and managing director, Gensol Engineering, said: We are honored to emerge as the lowest bidder for EPC of Indias first biomass to green hydrogen project for Indias leading power generation company.
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Gensol and Matrix consortium highlights our unwavering commitment to innovation and excellence within the renewable energy sector, aligning towards Indias National Green Hydrogen Mission and proliferating to unlock EPC turnkey solution provider.
By converting bio-waste into hydrogen, we are addressing critical environmental challenges and making a significant contribution to the nations energy transition. We are committed to executing this project with the highest standards of quality and efficiency that defines Gensol.
Gensol Engineering offers end-to-end EPC and solar advisory services. The company is engaged in providing technical due diligence, detailed engineering, quality control, construction supervision, and other consulting services for solar projects across many countries, including India.
The company's consolidated net profit doubled to Rs 20.48 crore in the quarter ended June 2024 as against Rs 10.24 crore during the previous quarter ended June 2023. Sales rose 104.11% to Rs 295.15 crore in Q1 FY25 over Q1 FY24.
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