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Posco Holdings sign MOU with Greenko to conduct green hydrogen project

Published: 01 Sep. 2022, 16:18

Cho Ju-ik, fourth from left, head of Posco Holdings' hydrogen business, and Gautam Reddy Kumbam, third from left, head of Greenko's new energy division, take a photo after signing an agreement on the cooperation of the green hydrogen production. [POSCO HOLDINGS]

Posco Holdings signed a memorandum of understanding (MOU) with Greenko, a renewable energy company in India, to jointly conduct a green hydrogen project.

Under the agreement, the two companies will cooperate on the production of green hydrogen, which uses renewable energy such as solar and wind for its production. It is considered the ultimate eco-friendly option while the world moves toward carbon neutrality.

Greenko is India's second largest renewable energy producer. Its production capacity totals 7.2 gigawatts.

"India has a very good environment for renewable energy production as it is rich in resources such as solar and wind and also has strong electrical grids," said Cho Ju-ik, head of Posco Holdings' hydrogen business. "India is one of the optimal production bases for Posco as we are currently in the process of developing a massive green hydrogen project overseas."

Posco Holdings Cho and Gautam Reddy Kumbam, head of Greenko's new energy division, signed the agreement Thursday at the H2 MEET 2022 exhibition event at Kintex in Goyang, Gyeonggi.

BY SARAH CHEA [[email protected]]