India revises list of electrolyser subsidy winners




Following Jindal’s exit from the process, production-linked incentives have been re-allocated to Larsen & Toubro and Matrix Gas and Renewables


The Indian government has revised its list of winners for the first auction for electrolyser manufacturing subsidies, originally announced in January, after steelmaker Jindal — which had won incentives for 300MW of annual manufacturing capacity — dropped out of the process.


According to anonymous sources cited by local newspaper Mint in early February, Jindal had missed a deadline on 3 February for bank guarantees needed before the government could sign off on the production-linked incentives.


This left 300MW per year of manufacturing capacity, with a maximum incentive of 4.44 billion rupees ($53.5m), to be redistributed among bidders (see table below).


Engineering company Larsen & Toubro, which had in January seen its 300MW/year bid partially awarded to cover 63MW/year, has now been awarded production-linked incentives for its full bid.


Meanwhile, Matrix Gas and Renewables, which had been left off the original winners’ list, has now been allocated subsidies for 63MW/year of its 105MW/year bid, worth up to 932.4m rupees.


Awards for a separate block of funding — for “indigenously developed” technology (rather than intellectual property licensed from abroad, such as L&T’s use of McPhy tech) — did not change, as that had already been fully allocated.




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