The Solar Energy Corporation of India (SECI), a CPSU under the Ministry of New and Renewable Energy has announced the results of its auction under the Strategic Interventions for Green Hydrogen Transition (SIGHT) Program (Mode-1-Tranche-II) while awarding a total annual green hydrogen production capacity of 4,50,000 metric tons (MT). The selected bidders will receive an allocated incentive of Rs. 2,238.59 crore. Under Bucket 1, 4,48,500 MT were awarded to companies and 1,500 MT was awarded under Bucket 2. The projects are to be completed within 36 months from the date of issuance of the award and it is aimed to reduce production costs and advance green hydrogen technology in India as per Mercom.
Listed below are the stocks that received Green Hydrogen Incentive under the SIGHT program.
Reliance Industries
The company is India’s largest private-sector conglomerate and a Fortune Global 500 company. It operates across energy, petrochemicals, retail, telecommunications, and entertainment. It leads globally in polyester production and aims for net carbon zero by 2035.
With a market capitalization of Rs. 17,16,649.16 Crores, the shares of Reliance Industries Limited closed at Rs. 1,268.55 per equity share, up 1.67 percent from its previous day’s close price of Rs. 1,247.70.
Reliance Green Hydrogen and Green Chemicals, a subsidiary of Reliance New Energy which is a subsidiary of Reliance Industries allocated an Average Incentive (Rs/kg of GH2) of Rs. 24.99 with a maximum allocation of ~Rs. 367.30 crore awarded for 49,000 MT Annual Production Capacity.
Larsen & Toubro
This conglomerate operates in over 50 countries while specializing in EPC projects, manufacturing, IT services, defence, and financial solutions. They serve industries such as infrastructure, energy, and technology globally.
With a market capitalization of Rs. 4,60,573.62 Crores, the shares of Larsen & Toubro closed at Rs. 3,349.20 per equity share, up 0.92 percent from its previous day’s close price of Rs. 3,318.80.
L&T Energy Green Tech, a subsidiary of Larsen & Toubro allocated an Average Incentive (Rs/kg of GH2) of Rs. 11.11 with a maximum allocation of ~Rs. 299.97 crore awarded for 90,000 MT Annual Production Capacity.
Waaree Energies
The company is one of the largest solar PV module manufacturers with a capacity of ~15GW. It offers solar modules, EPC services, rooftop solutions, and solar water pumps. Operating globally across 20 countries, it aims to expand capacity to 21 GW, 11.4 GW in Cell & 6 GW in Ingot-wafer by FY27.
With a market capitalization of Rs. 64,654.52 Crores, the shares of Waaree Energies Limited closed at Rs. 2,250.55 per equity share, down 0.22 percent from its previous day’s close price of Rs. 2,255.50.
Waaree Clean Energy Solutions Private Limited, a subsidiary of Waaree Energies allocated an Average Incentive (Rs/kg of GH2) of Rs. 18.90 with a maximum allocation of ~Rs. 510.30 crore awarded for 90,000 MT Annual Production Capacity.
Oriana Power
The company specializes in solar energy solutions for industrial and commercial clients. It offers EPC and RESCO services, including rooftop, ground-mounted, and floating solar projects. With a pipeline order book of ~Rs. 1,200 crore, it is exploring green hydrogen technologies.
With a market capitalization of Rs. 2,419.60 Crores, the shares of Oriana Power Limited closed at Rs. 1,190.80 per equity share, up 5.00 percent from its previous day’s close price of Rs. 1,134.10.
Oriana Power Limited allocated an Average Incentive (Rs/kg of GH2) of Rs. 0.01 with a maximum allocation of ~Rs. 0.030 crore awarded for 10,000 MT Annual Production Capacity.
Written by Santhosh S
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