Gensol Engineering and Matrix Gas & Renewables Consortium Awarded Project for India’s First Green Hydrogen-Powered Steel Facility

Gensol Engineering Limited, a leading player in the renewable energy sector, and Matrix Gas & Renewables, a key player in natural gas aggregation and green hydrogen, have partnered to develop India’s first and largest Green Steel production facility. This facility will utilize 100% Green Hydrogen, marking a significant step forward in sustainable steel production. The project’s total capital expenditure (capex) is estimated at INR 321 Crore, with the Government of India providing 50% capex incentives. The facility will employ direct reduced iron (DRI) vertical shaft technology to convert iron ore into sponge iron, eliminating CO2 emissions. The consortium members will collaborate on this pilot plant, which will have a capacity of 50 tons per day (TPD).