German electrolyser manufacturer Thyssenkrupp Nucera has opened a new office in Mumbai city in western India to expand its green hydrogen and chlor-alkali business.
The company said it wants to capitalise on India's potential to produce renewable hydrogen on an industrial scale through alkaline water electrolysis.
Thyssenkrupp Nucera is among several hydrogen equipment manufacturers hoping to tap into the country's potential for renewable hydrogen production. Belgian's John Cockerill, Spain's H2B2 and Germany's SFC Energy, have announced plans to set up factories in the country or to collaborate with domestic firms over the past year.
Thyssenkrupp Nucera will set up factories where it expects large projects to materialise, the firm's hydrogen executive advisor Stefan Kaufmann said at the World Power-to-X summit in Marrakesh last month.
Thyssenkrupp Nucera said it sees India as a potential hub for a south Asian market considering its renewable power generation capacity and resulting high demand for cost-efficient electrolysis technology. India has ambitious plans for the sector, with Delhi targeting 5mn t/yr of green hydrogen output by 2030, much of which could be exported.
The expansion will play a key role in realising Thyssenkrupp Nucera's growth ambitions in Asia, the firm's chief financial officer Arno Pfannschmidt said. A shortage of skilled engineers elsewhere is also an important factor for expanding in India, Pfannschmidt added.
