PTC and Greenstat will collaborate on green hydrogen project development in India under the terms of the MoU.
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PTC India and Greenstat Hydrogen India (a subsidiary of Greenstar ASA, a Norwegian energy company) have signed a memorandum of understanding (MoU) to collaborate on green hydrogen solutions for Indian power sector beneficiaries.
PTC and Greenstat will collaborate on developing green hydrogen projects in India under the terms of the MoU. Feasibility studies and/or project management services for green hydrogen solutions are among the areas of development. The companies will also look at ways to build a 'Centre of Excellence for facilitating the use of green hydrogen in the country.
"Green hydrogen offers enormous promise for sustainability meeting future energy demands while also assisting in the transition to a net-zero economy." PTC and Greenstat will play a key role in its acceptance in the country due to this partnership, "PTC India's CMD, Rajib Kr Mishra, stated.
"There is a nice synergy between Greenstat and PTC," Sturle Pedersen, chairman of Greenstat Hydrogen India, said of the relationship. Greenstat is looking forward to a long-term and beneficial partnership. We are confident that by working together, many creative ideas will be undertaken to help the shift from fossil to renewable energy succeed. Green hydrogen will be a critical component of the energy transition.``
"We firmly think that cooperation between our enterprises will make a substantial contribution to India's net-zero commitments and execution of the 'Panchamrit' or 'five elixirs' strategy," he added.