German company Thyssenkrupp Nucera has opened a new office in Mumbai, aiming to expand its green hydrogen and chlor-alkali business. The company plans to capitalize on India's potential for large-scale renewable hydrogen production through water electrolysis.
Thyssenkrupp Nucera, a German electrolyser manufacturer, is making significant strides in India with the opening of a new office in Mumbai. The move is a strategic effort to expand the company's green hydrogen and chlor-alkali operations in the region. Thyssenkrupp is one of several international firms keen to tap into India's burgeoning renewable hydrogen sector.
Stefan Kaufmann, Thyssenkrupp Nucera's hydrogen executive advisor, recently announced at the World Power-to-X summit that the company plans to establish factories in areas where it anticipates large projects. The aim is to capitalize on India's potential to produce renewable hydrogen at an industrial scale via alkaline water electrolysis.
Thyssenkrupp Nucera sees India as a pivotal market, especially given its renewable power generation capabilities and growing demand for cost-efficient electrolysis technology. India has set an ambitious target of producing 5 million metric tons of green hydrogen annually by 2030. A significant portion of this could be exported, further strengthening India's position in the renewable energy landscape.
According to the company's chief financial officer, Arno Pfannschmidt, the expansion into India is not just about market potential. It's also a response to a global shortage of skilled engineers, making India a strategic choice for growth.
Other global hydrogen equipment manufacturers like Belgium's John Cockerill, Spain's H2B2, and Germany's SFC Energy have also shown interest in India. They have announced plans to either set up factories in the country or partner with domestic firms, indicating a trend that Thyssenkrupp is keen to be a part of.
This expansion is crucial for Thyssenkrupp Nucera's growth plans in Asia. The new Mumbai office signifies not just a geographical extension, but a calculated move to be at the forefront of the renewable energy sector in one of the fastest-growing markets in the world.
Thyssenkrupp Nucera's new office in Mumbai marks a significant step in the company's expansion strategy, focusing on green hydrogen production in India. Given India's ambitious targets and high demand for renewable energy, this move could play a vital role in shaping the future of both the company and the renewable energy sector in India.