Advait Infratech Ltd has launched a wholly owned subsidiary, Advait Energy Holding AS, in Norway to strengthen its position in the green hydrogen ecosystem. The new entity will focus on strategic collaboration, investments, services, marketing, manufacturing, and technical know-how exchange in this sector.
In a stock exchange filing, Advait Infratech announced that it has submitted 100% initial subscription to the share capital in cash through the ODI route. This step aligns with the company’s strategic expansion in the green energy domain.
Advait Infratech is among the six firms selected for government incentives to establish facilities for manufacturing electrolysers, which are essential for green hydrogen production. The company plans to increase its electrolyzer manufacturing capacity to 200 MW per year by 2025.
The company’s journey into green energy began in 2023 with the creation of a special purpose vehicle named Greenergy. This venture focuses on electrolyser assembly and manufacturing, fuel cell supply, and sustainable services like carbon consultancy. Currently, Advait’s manufacturing plant in Kadi, Gujarat, has a capacity of 120 MW per year, producing 0.3/0.5/1 MW electrolysis cell stacks and 2/4/8 MW modules.
Founder and Managing Director, Shalin Sheth, emphasized the company’s commitment to advancing the green hydrogen ecosystem through strategic initiatives and collaborations. This new subsidiary in Norway is expected to play a crucial role in their global expansion efforts.
Source: PV Magazine
