Overview of the Investment Welspun World has pledged a significant investment of ₹40,000 crore to develop a green hydrogen and green ammonia ecosystem in Gujarat. This commitment is aimed at supporting the state’s decarbonization goals and establishing a robust green energy infrastructure.
Strategic Alliance and MoU A key aspect of this initiative is Welspun’s strategic alliance with Gujarat Pipavav Port Limited (GPPL), facilitated by a Memorandum of Understanding (MoU) signed at the Vibrant Gujarat Global Summit 2024. This partnership will focus on developing facilities for producing green hydrogen and its derivatives, including green ammonia and methanol, leveraging land provided by GPPL.
Impact and Vision Welspun New Energy, a division of Welspun, is spearheading this project. The company’s leadership emphasizes their commitment to contributing positively to Gujarat’s economy and aligning with India’s broader green energy objectives. This project is seen as a step towards making India a leader in green energy, with a particular focus on transforming Gujarat into a key player in sustainable economic growth.
Welspun’s Broader Presence Welspun World, a conglomerate with annual revenues exceeding USD 3 billion, has a diverse portfolio encompassing various sectors like infrastructure, textiles, and new energy, among others. This investment in Gujarat’s green energy sector is a testament to Welspun’s continued growth and strategic focus on sustainability.