With a strong focus on indigenously developed technology, Greenzo Energy India Limited has rapidly positioned itself as a key player in India’s green hydrogen ecosystem. The company recently designed, manufactured and deployed the country’s first alkaline electrolyser for Felix Industries. Backed by an order pipeline of about Rs 20 billion and a target to scale its manufacturing capacity to 2 GW by 2030, Greenzo is set to play a pivotal role in driving India’s clean energy transition. In a recent interaction with Renewable Watch, Sandeep Agarwal, Managing Director, Greenzo Energy India Limited, shared insights on the company’s current portfolio, ongoing projects, manufacturing plans and future targets. Edited excerpts…
What was the motivation to start Greenzo?
The idea of Greenzo Energy took shape during our participation in COP26 at Glasgow, as a part of the FICCI delegation. At the event, global leaders set ambitious carbon reduction targets, with green hydrogen identified as a key future fuel. We recognised that one of the major challenges has been the limited availability of electrolysers, which are essential for producing green hydrogen. With only few players globally having this technology, we decided to develop an indigenous design using Indian steel, to reduce dependence on imports and build local capability.
Could you give an overview of Greenzo’s current portfolio?
Greenzo’s portfolio is focused on alkaline electrolysers, designed and manufactured in-house for Indian conditions. The current range includes units from 150 kW to 5 MW, suitable for both pilot projects and industrial applications. These electrolysers operate at up to 30 bars(g), reducing the need for compressors and lowering project costs. They have a service life of more than 10 years, with an annual degradation rate of 0.13 per cent, and can be repaired and serviced locally.
In addition to electrolyser manufacturing, Greenzo provides end-to-end engineering, procurement and construction (EPC) services and 10-year operations and maintenance (O&M) agreements. The company’s facility also includes backward manufacturing capabilities and balance-of-plant production. While alkaline electrolysers are the primary focus, the research and development team is also developing proton exchange membrane (PEM) technology, which is more suited to mobility, small-scale and decentralised power applications.
What is the company’s business model?
Greenzo Energy follows an end-to-end business model that combines in-house technology development with EPC services for green hydrogen, green ammonia and solar projects. The company designs and manufactures alkaline electrolysers in the 0.15-5 MW range and manages all project stages including design, engineering, procurement, manufacturing, installation, commissioning and long-term O&M. Its clients include both government and private sector entities and projects range from large-scale industrial hydrogen use in sectors such as steel, chemicals and fertilisers to smaller solar-integrated plants.
What are Greenzo Energy’s portfolio targets for the next three to five years, and what are its capital requirements and plans for raising these funds?
Over the next three to five years, Greenzo Energy plans to expand its work in green hydrogen, electrolyser manufacturing and solar projects. The company’s strategy includes scaling up in-house manufacturing capacity, entering international markets and forming partnerships with both public and private sector entities. Work is also under way on alternative technologies such as PEM electrolysers to broaden the portfolio. In addition, the company is investing in fuel cell development for decentralised energy and mobility applications.
Greenzo Energy’s capital requirement for the coming years is about Rs 2.5 billion. The company is in discussion with corporate groups to bring them in as strategic partners and is also engaging with financial institutions to raise the required funds.
Could you share a recent client project as a case study highlighting Greenzo’s role and key takeaways from the experience?
Greenzo Energy recently commissioned a 150 kW green hydrogen plant for Felix Industries Limited. The plant uses an indigenous alkaline electrolyser with a capacity of 30 Nm³ per hour, producing hydrogen at 30 bar(g) after purification. This operating pressure removed the need for external compressors, reducing project costs.
Greenzo was responsible for the full scope of work, including design, manufacturing, supply, installation and commissioning of the electrolyser system and balance of plant. The project was inspected and certified by TÜV Rheinland and Bureau Veritas for compliance with ISO 22734 and ASME Sec VIII standards. Following this project, the company is working on larger plants, including a 5,256,000 Nm³ per annum modular electrolyser plant for the Jindal Group and a 21,900 Nm³ per annum pilot project with Engineers India Limited.
How is Greenzo Energy leveraging AI in its electrolyser manufacturing?
Greenzo Energy has integrated artificial intelligence (AI) into its electrolyser manufacturing processes to improve efficiency and reliability. The facility uses AI-enabled robotic welding systems to ensure accuracy in stack production, while AI algorithms support defect detection and correction to reduce errors and optimise material use. Smart CNC machines with AI modules enhance precision in cutting and shaping large components. In addition, the SCADA-linked AI system provides predictive maintenance alerts, generating warnings shortly before potential faults occur. Together, these applications help streamline production, strengthen quality control and reduce operational risks.
Is Greenzo partnering with public or private entities to scale green hydrogen adoption across sectors such as transport or heavy industry?
Greenzo is pursuing partnerships with both private and public entities to advance green hydrogen adoption across industries. The company is already working with Jindal Stainless Limited to support decarbonisation in steel production, using its electrolyser technology. It has also partnered with TUV for product certification in domestic and international markets.
Looking ahead, Greenzo plans to collaborate with public sector organisations and government bodies to develop hydrogen hubs, particularly in coastal regions suited for large-scale production and export. In the transport sector, the company is exploring PEM and fuel cell technologies in partnership with automotive players. Its broader approach is to create industrial hydrogen clusters that enable faster adoption, shared infrastructure and reduced costs and risks for early users.
What policy changes or government support would most help accelerate electrolyser manufacturing and green hydrogen deployment in India?
While the National Green Hydrogen Mission (NGHM) and Solar Energy Corporation of India’s incentive schemes have provided a foundation, additional measures could further support electrolyser manufacturing and green hydrogen deployment in India. Establishing clear technical standards and certifying agencies would build confidence in domestic technologies. Extending production-linked incentive support specifically for indigenous electrolyser manufacturing and creating low-cost financing mechanisms, such as viability gap funding and lower earnest money requirements in tenders would make participation easier. Incentives for local production of critical components such as membranes and electrical systems could reduce import dependence. Finally, mandating that a share of industrial hydrogen consumption should come from green sources would create assured demand and encourage faster adoption.
What is your long-term vision for Greenzo’s role in India’s green hydrogen road map and decarbonisation goals?
Greenzo’s long-term vision is aligned with the NGHM, which aims to produce 5 million metric tonnes of green hydrogen annually by 2030. The company plans to scale its electrolyser manufacturing capacity from 250 MW to 2 GW per year by 2030, supported by deeper backward integration and localisation of key components such as membranes, electrodes and nickel electroplating of bipolar plates.
Its focus is on enabling decarbonisation across sectors, including steel, cement, refining, fertilisers, chemicals, transport and power. In addition to meeting domestic demand, Greenzo aims to export electrolysers designed for tropical and high-temperature regions, where suitable technologies remain limited. The broader goal is to contribute to India’s self-reliance in electrolyser technology, while positioning the country as a global supplier of green hydrogen equipment and solutions.
