Steelmaking giant, POSCO, and Greenko, one of India’s largest renewable energy companies, have signed a memorandum of understanding (MoU) to make green hydrogen and to jointly pursue opportunities in renewables, and other derivatives of hydrogen. Greenko has expertise in producing sustainable and affordable energy and has a net installed capacity of 7.2 gigawatt across 15 states in India. This partnership is targeted at production of green hydrogen, ammonia and other derivatives in India for use in the domestic market and will also be exported to South Korea and Europe. The interesting aspect of this news is that the production of green hydrogen and ammonia will be based on pumped-storage hydroelectricity (PSH). PSH is a configuration of two water reservoirs at different elevations that generate electricity as water moves down from one reservoir to the other. In this process, water is pumped to and stored at a high-level reservoir at night and released during the day-time when demand is high. The water travels from the high-level reservoir to the low-level reservoir, turns the turbines and generates electricity. This electricity will be used to power electrolyzers that will in turn produce green hydrogen and this hydrogen can then be converted into its derivatives. This project comes in line with India’s National Hydrogen Mission which hopes to see the country cut its emissions and become a green hydrogen hub for both domestic use and export. The mission sets out an ambition of producing five million tonnes of green hydrogen annually by 2030.
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