Sadhana Nitro Chem Ltd, a manufacturer of intermediate specialty chemicals, has approved a rights issue of up to INR 49.95 crore (around $6 million) to establish a 15-20 MW green hydrogen facility. The company will acquire a 126-acre land plot to establish solar and wind energy installations, which will be used for the production of green hydrogen. It will use the hydrogen produced at the facility for consumption by its current plant and expansion of the para Aminophenol plant.
Sadhana Nitro Chem Ltd plans to sell any additional hydrogen manufactured after meeting its own requirements.
The rights issue will be used to acquire a 126-acre land plot, which will be strategically used for the establishment of both a solar power facility and a wind energy installation. The renewable electricity generated will be used for the production of green hydrogen via water electrolysis.
“This green energy expansion offers the company strategic advantage of backward integration and control over its energy supply. Any surplus green hydrogen produced will be made available for sale to external parties,” stated Sadhana Nitro Chem Ltd.
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