Jakson Green, the energy transition platform of Jakson Group, will set up a 3,65,000 tonnes per annum green hydrogen and green ammonia plant along with an integrated hybrid renewable power complex in the state’s Kota district.
Rajasthan has bagged its second major green hydrogen and green ammonia project with the signing of an MoU between the Noida-headquartered Jakson Group and the state government. Jakson Green, the new energy transition platform backed by Jakson Group has committed to rolling out the Rs 22,400 crore or $2.8 billion project in the state, in a phased manner.
Under the agreement, Jakson Green will set up a 3,65,000 tonnes per annum green hydrogen and green ammonia plant along with an integrated hybrid renewable power complex in the state’s Kota district. Work on the project will commence next year and more than 32,000 direct and indirect jobs are expected to be created by the time of its completion in 2028. The state government has said that it would facilitate Jakson Green in obtaining all necessary approvals as well as provide tax incentives to make the project cost-effective.
In August, integrated energy enterprise Avaada Group had inked an agreement to invest Rs 40,000 crore in a green ammonia manufacturing unit and a renewable energy power plant, again in Kota.
“It has been proved again that Rajasthan is the most ideal destination for investments in the new energy transition. This agreement with Jakson Green is further testimony to the state’s investor centric policies,” principal secretary of energy in Rajasthan government, Bhaskar S Sawant said.
Calling the association, a significant milestone in the state’s green hydrogen progress, founding promoter & CEO of Jakson Group, Bikesh Ogra said in an official statement, “Given our strong focus on technology and execution, with a proven team that has delivered over 10GW of green energy assets across 26 countries, we are confident of delivering a state-of-the-art green ammonia and green hydrogen facility in Rajasthan.”
The first phase of India’s green hydrogen policy notified in February is aimed at facilitating the production of 5 million tonnes of green hydrogen by 2030. Industry experts are, however, of the view that the production cost of green hydrogen and green ammonia won’t reduce till the central government decides on the much-awaited production-linked incentive (PLI) scheme for units, electrolysers, fuel cells, etc.
Currently, the cost of manufacturing green hydrogen works out to nearly $6 a kilo, which makes it unviable for any commercial application. This needs to be brought down by more than 50 per cent to $2-3 kilo for it to be able to compete with manufacturing hydrogen using gas cracking. It is in this context that industrial-scale projects like the ones announced by Jakson and Avaada assume significance.
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