Alfanar Group's Entry into India's Green Hydrogen Sector: A Renewable Transition Awaits
Key Ideas
- Alfanar Group, with a focus on renewable energy, is gearing up to venture into India's green hydrogen segment once the regulatory environment becomes more defined.
- The company's international experience from Egypt and Chile will be leveraged to replicate successful models in India, emphasizing a mix of wind, solar hybrid projects, and energy storage solutions.
- While India shows growing interest in green hydrogen, the lack of assured offtake agreements remains a challenge, awaiting further maturity in the hydrogen market.
- Alfanar Group also highlights its presence in global renewable energy projects, with a portfolio of 1.7 GW across Spain, India, and Egypt, and ongoing development of sustainable aviation fuel in the UK.
Alfanar Group, a Saudi Arabia-based energy giant, is gearing up to enter India's green hydrogen segment as part of its commitment to renewable energy. The company's India CEO, Mohammed Irfan, expressed the company's focus on a mix of wind and solar hybrid projects along with energy storage solutions. Leveraging their successful models from Egypt and Chile, Alfanar aims to replicate them in India once the policy framework for green hydrogen becomes clearer. Despite the growing interest in India's green hydrogen sector, the lack of assured offtake agreements remains a challenge. However, Alfanar Group remains positive about the future, indicating their readiness to participate once the hydrogen market in India matures. Apart from green hydrogen projects, the company is actively involved in renewable energy projects globally, with a portfolio of around 1.7 GW in Spain, India, and Egypt. Additionally, they are developing sustainable aviation fuel projects in the UK. The company's CEO also highlighted the challenges in grid evacuation in India due to constraints in power evacuation and grid connectivity. Alfanar Group's strategic positioning in the renewable energy sector reflects a positive outlook on the transition towards sustainable energy sources.