February 7, 2025
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Matrix Gas & Renewables’ order book crosses Rs 1000 crore as investments in Green Hydrogen infra pick up pace
Gujarat-based Matrix Gas & Renewables Ltd. has achieved an order book of Rs 1,250 crore in FY23-24 as demand for equipment to manufacture green hydrogen picks up in the Indian economy. With Union Budget 2025 allocating a staggering Rs 600 crores in FY 26 to accelerate hydrogen production, players like Matrix Gas & Renewables are bullish about this segment. In addition to a strong order book, the company has major partnerships and collaborations in place across the energy and industrial sectors, to capitalise on the growth trends that this segment is experiencing.
“This milestone reflects the company’s expanding footprint in the green hydrogen sector, as well as the government’s commitment to positioning India as a global leader in this space, supported by favorable policies outlined in this year’s Union Budget,” said Chirag Kotecha, CEO of Matrix Gas & Renewables Ltd. “Our vision is to reach 1,000 MW in the next 1000 days and we are targeting to grow our order book by nearly 10 times to Rs 10,000 crore in the next financial year. We are setting up large-scale, commercial hydrogen production plants for industrial and commercial segments. We are backed by high-credit-rated customers, including NTPC, NHPC, the Ministry of Steel, the Ministry of New and Renewable Energy, and several private customers.”
Leveraging its technical and subject-matter expertise, Matrix Gas has successfully secured a 300 MW/year PLI scheme from the MNRE, valued at INR 444 crores. With a Capex of Rs 500 crore, the company is developing a cutting-edge electrolyser manufacturing facility at Sanand, Ahmedabad along with a R&D facility. Spanning 25 acres in the Gujarat Industrial Development Corporation (GIDC) estate, the plant will strengthen India’s electrolyser supply chain and accelerate green hydrogen adoption. The company has partnered with one of the leading tech giants to create a state-of-the-art infrastructure and has completed land acquisition as well.
The groundbreaking is scheduled in the coming month, with the first electrolyser expected to be rolled out by July 2026. The facility will commence with an initial production capacity of 350 MW per year, scaling up to 1 GW by 2028 and 2 GW by 2030, reinforcing Matrix Gas & Renewables’ commitment to advancing India’s clean energy landscape
“Our investment in the Sanand facility is a decisive step toward strengthening India’s green hydrogen ecosystem. By leveraging advanced technology and a localized manufacturing approach, we aim to accelerate the deployment of sustainable energy solutions and contribute to the nation’s net-zero goals. Gujarat has long been a hub for industrial innovation, and we are proud to enhance its leadership in the green hydrogen economy. This facility will not only fortify India’s domestic supply chain for electrolysers but also play a critical role in realizing the National Green Hydrogen Mission,” added Kotecha.
Beyond Sanand, Matrix Gas is actively spearheading green hydrogen adoption across India. The company is engaged in strategic projects including India’s highest-altitude, green hydrogen mobility station in Kargil for NHPC, India’s first hydrogen-powered green steel project with MECON, Green hydrogen valley project at MIDC Pune, and India’s first biomass-to-green hydrogen project for NTPC.
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