Gensol Engineering Ltd Emerges as Lowest Bidder for NHPC's Kargil Green Hydrogen Mobility Station EPC Project

Gensol Engineering Ltd. (BSE: 542851) (NSE: GENSOL), a leading player in the renewable energy and electric mobility sectors, has secured the position of the lowest bidder for the Engineering, Procurement, and Commissioning (EPC) contract of a groundbreaking green hydrogen-based mobility station in Kargil, Ladakh. This achievement comes as a result of Gensol's technocommercial competency demonstrated in collaboration with Matrix Gas & Renewables Ltd. (Matrix). The National Hydroelectric Power Corporation Ltd. (NHPC) is set to commission this notable project, aimed at operating buses powered by hydrogen fuel cells within the region, aligning with the government's ambitious targets for green hydrogen energy.

Under the agreement, Gensol will develop a 500-kW grid-connected, ground-mounted solar power project that will supply energy to the hydrogen refueling station. Matrix, India's rapidly expanding natural gas aggregator and hydrogen infrastructure developer, will oversee the Engineering, Procurement, and Commissioning of dual electrolysers, each with a capacity of 30 NM3. The comprehensive scope of work includes the entire balance of plant EPC, covering the installation of the green hydrogen system, storage, and dispensing facilities, along with the necessary civil and electrical infrastructure for the integrated solar and hydrogen operation in Ladakh.

This pioneering project, a first of its kind in India, spans the complete green hydrogen supply chain. Gensol has committed to executing the project for NHPC, ensuring a minimum green hydrogen purity of 99.97%, with the anticipated completion within 12 months from the issuance of the work order.

The success in securing the NHPC project is expected to bolster Gensol's and Matrix's market standing, enhance their technical capabilities, and create new avenues for growth and collaboration within the renewable energy sector.

Both Gensol and Matrix, being companies promoted by common promoters, are poised to continue their collaboration in the Green Hydrogen domain, leveraging the respective skill sets of each entity.

Mr. Ali Imran Naqvi, CEO-BD & Project Management at Gensol Engineering Ltd., expressed, "Our collaboration with a state-operated entity such as NHPC bolsters Gensol's stature and trustworthiness in the industry, creating avenues for additional opportunities and alliances in the green hydrogen sector. The NHPC project win is set to strengthen Gensol's market position, elevate our technical capabilities, and pave the way for growth and collaboration in the renewable energy sector."

Mr. Chirag Kotecha, Whole-time Director at Matrix Gas and Renewables Limited, reaffirmed the company's commitment to fulfilling the objectives set forth by the Ministry of New and Renewable Energy (MNRE) of India. He stated, "The forthcoming Green Hydrogen-based mobility station pilot project will establish the technical and commercial feasibility of green hydrogen. This initiative will pave the way for scaling up to larger projects and will contribute significantly to India's energy security. Given the vast potential within the green hydrogen supply chain, Matrix Gas and Renewables is strategically poised to offer efficient and economically viable solutions across the diverse Indian market."

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