National Investment and Infrastructure Fund’s (NIIF) Ayana Renewable Power (Ayana) and Norway-based Greenstat ASA’s subsidiary Greenstat Hydrogen India, have entered into a joint development agreement for development of green hydrogen projects powered by renewable energy in India.
Under this partnership, the companies will develop large scale green hydrogen solutions, to provide long term supply of green hydrogen to industrial and commercial customers in India. An initial pilot project will be launched in Karnataka.
This partnership supports the National Hydrogen Mission with an aim to make India a global hub for production and export of green hydrogen.
Ayana Renewable Power founded in 2018 and headquartered in Bangalore, is one of the largest renewable energy companies in India. It is a majority owned company of the NIIF. British International Investment (formerly CDC Group), the UK’s development finance institution, and EverSource Capital managed Green Growth Equity Fund (GGEF) are other shareholders in the platform.
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