Hydreen, part of Luxembourg-based cruise liners firm, ties up $2 bn for India’s green hydrogen market – EQ Mag
Hydreen, a subsidiary of Luxembourg-based cruise liners firm HLC Holdings, has announced a $2 billion investment for India’s green hydrogen market. The company has already initiated two projects in Himachal Pradesh and Kerala.
This significant investment demonstrates Hydreen’s commitment to the development of green hydrogen as a sustainable energy source in India. Green hydrogen is produced through the process of electrolysis, using renewable energy sources such as wind or solar power. It can be used as a clean fuel in various sectors, including transportation, industry, and power generation.
By investing in India’s green hydrogen market, Hydreen aims to support the country’s transition to a low-carbon economy and reduce its dependence on fossil fuels. The projects in Himachal Pradesh and Kerala will contribute to the development of a robust green hydrogen ecosystem in India.
India has set ambitious targets for renewable energy and aims to achieve 450 GW of installed renewable energy capacity by 2030. Green hydrogen is expected to play a crucial role in meeting these targets and reducing carbon emissions.
Hydreen’s investment will not only drive the growth of the green hydrogen market in India but also create opportunities for job creation and technology transfer. It will bring together international expertise and local partnerships to accelerate the adoption of green hydrogen technology.
With the support of this significant investment, India is poised to become a global leader in the green hydrogen sector. The development and deployment of green hydrogen will contribute to the country’s sustainable development goals and help address climate change.
Hydreen’s commitment to India’s green hydrogen market reinforces the growing global interest and investment in this emerging sector. As countries worldwide strive to transition to cleaner and more sustainable energy sources, green hydrogen offers a promising solution for a greener future.
