DEE Development Engineers Expands into Hydrogen Production Amid India's Green Hydrogen Boom
Key Ideas
- DEE Development Engineers plans to diversify into hydrogen production to capitalize on the growing green hydrogen market in India.
- The company has acquired a stake in Maldives Design Ltd specialized in manufacturing nitrogen, oxygen plants, hydrogen purification plants, and ammonia crackers.
- DEE is seeking technology tie-ups to manufacture complete hydrogen plants to align with the government's National Green Hydrogen Mission.
- With a turnover of Rs 827.36 crore in 2024-25, DEE aims to increase it to Rs 1,300 crore in 2025-26, showcasing confidence in the hydrogen sector.
DEE Development Engineers, an engineering solutions provider based in New Delhi, is strategically expanding its operations into hydrogen production to seize the growing business opportunities in the green hydrogen market in India. The company's Chairman and Managing Director, Krishan Lalit Bansal, expressed confidence in the hydrogen sector's potential, especially with the acquisition of a majority stake in Maldives Design Ltd, which specializes in manufacturing nitrogen, oxygen plants, hydrogen purification plants, and ammonia crackers. DEE sees significant contributions from its hydrogen purification and ammonia cracker plants. The company is also actively seeking technology tie-ups to enhance its capabilities for manufacturing complete hydrogen plants. This strategic move aligns with the government's National Green Hydrogen Mission, which aims to ramp up green hydrogen production to 5 million metric tonnes annually by 2030, accompanied by an additional 125 GW of renewable energy capacity. DEE Development Engineers anticipates substantial growth, with a projected turnover increase from Rs 827.36 crore in 2024-25 to Rs 1,300 crore in 2025-26, showcasing optimism and confidence in the hydrogen sector's future prospects.
Topics
Projects
Renewable Energy
Green Energy
Engineering
Business Opportunities
Government Initiative
Technology Tie-ups
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