Bucket I, with a cumulative capacity of 410,000 MT/annum, saw Reliance, Greenko, and ACME securing 90,000 MT each, with average incentives of Rs 18.9 (~$0.227)/kg, Rs 30 (~$0.360)/kg, and Rs 30 (~$0.360)/kg, respectively. Hygenco clinched 75,000 MT capacity with an average incentive of Rs 25.04 (~$0.301)/kg. Additional winners under Bucket I included Welspun (20,000 MT at Rs 20 (~$0.240)/kg), Torrent Power (18,000 MT at Rs 28.89 (~$0.347)/kg), CESC Projects (10,500 MT), and UPL (10,000 MT with zero incentive).

JSW Neo Energy secured 6,500 MT under Bucket I at Rs 34.66 (~$0.416)/kg. All the allocated capacity fell under Bucket I.

Bharat Petroleum Corporation secured the sole capacity under Bucket II, winning 2,000 MT of green hydrogen manufacturing capacity at an average incentive of Rs 30 (~$0.360)/kg. The remaining 38,000 MT capacity in Bucket II remained unallocated.

The tender, issued in July under the Ministry of New and Renewable Energy?s Tranche-I of the Strategic Interventions for Green Hydrogen Transition (SIGHT) program, pertained to green hydrogen and electrolyzer manufacturing. The selected bidders are expected to establish production facilities on a thousand metric tons (TMT) scale for green hydrogen and its derivatives, with a commissioning timeline of 30 months from the letter of award.

The average incentives were determined based on the three-year incentives proposed by the companies in their respective proposals. While the green hydrogen capacity allocations have been finalised, the electrolyzer bids are still undergoing evaluation and are anticipated to be disclosed later this month.