Hydreen, a subsidiary of Luxembourg-based cruise liners firm HLC Holdings, has announced an investment of USD 2 billion in India’s green hydrogen market which will help India transition to a low-carbon economy.
Aug 9, 2023
Hydreen, a subsidiary of Luxembourg-based cruise liners firm HLC Holdings, has announced an investment of USD 2 billion for the development of India’s green hydrogen market. The company has already started two projects in Kerala and Himachal Pradesh to contribute to the development of the green hydrogen ecosystem. The main objective of the investment is to support India’s transition to a low carbon economy and reduce the dependency of the country on fossil fuels. Green hydrogen will play a crucial role in helping India achieve its ambitious goal to achieve 450 GW of installed renewable energy capacity by 2030. Apart from driving the growth of the green hydrogen market, the investment will also create job opportunities and technology transfer. With the support of Hydreen’s investment, India is on track to establish itself as a prominent player in the worldwide green hydrogen industry.