Latest: L&T, Matrix chosen for green hydrogen scheme after Jindal India pulls out
MUMBAI:
L&T Electrolysers Ltd and Matrix Gas and Renewables Ltd have secured subsidies under New Delhi’s premier green hydrogen promotion initiative, filling the void left by Jindal India Ltd, a BC Jindal Group entity, which withdrew its participation at the eleventh hour, according to a source familiar with the situation.
The decision was made on Thursday following Jindal India's failure to meet the 3rd of February deadline for providing the requisite bank guarantees to formally enrol in the program, the source, who preferred anonymity, revealed.
These subsidies are part of the ₹17,490-crore Strategic Interventions for Green Hydrogen Transition (Sight) scheme, designed to offer financial support to companies establishing electrolyser manufacturing plants across India.
Jindal India...
