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Thermax aims to support India's energy transition by focusing on green hydrogen and electrolyzer production. As India targets net zero emissions and 500 GW of non-fossil fuel capacity by 2030, the company recognizes opportunities in efficiency improvements and technology tie-ups.

Thermax anticipates a demand for nearly 2 GW of electrolyzers over the next 18-24 months, with production set to begin in Pune by mid-2026. The company is also exploring green hydrogen from biomass and engaging in carbon credit trading to enhance sustainability investments.