The public sector undertaking stated that this strategic tie-Up shall enable phased indigenization and local manufacturing of alkaline electrolyser systems in India.

'The collaboration will further strengthen BHEL’s project execution capabilities for green hydrogen projects in India. This will also enhance BHEL's contribution to National Green Hydrogen Mission and support the Government of India's Make in India initiative,” the company said in a statement.

Bharat Heavy Electricals (BHEL) is an integrated power plant equipment manufacturer, engaged in the design, engineering, manufacturing, erection, testing, commissioning, and servicing of a diverse range of products and systems. The company caters to key sectors of the Indian economy, including power, transmission, industry, transportation, renewable energy, oil & gas, and defence.

The scrip fell 2.56% to currently trade at Rs 377.55 on the BSE.