Pune: h2e Power Systems Signs Rs 10,750 Crore MoU with Maharashtra Government at WEF 2025
Reported by Tikam Shekhawat
Davos, 25th January 2025: Pune-based h2e Power Systems, India’s first electrolyser, fuel cell, and e-fuel company, has taken a significant step towards shaping India’s green energy future. At the World Economic Forum (WEF) 2025 in Davos, Switzerland, the company signed a Memorandum of Understanding (MoU) with the Government of Maharashtra on January 21, 2025, committing an investment of ₹10,750 crores.
The investment will fund the establishment of a state-of-the-art electrolyser and fuel cell manufacturing plant with a capacity of 1.2 GW. Additionally, h2e plans to set up green hydrogen, green ammonia, and sustainable aviation fuel (SAF) production facilities in Maharashtra. These initiatives align with India’s mission to achieve energy independence by 2047.
Founded by Siddharth Mayur and partnered by Adar Poonawalla, h2e Power Systems has already made a mark by commissioning India’s first green hydrogen plant and developing a green hydrogen-powered bus. The company is recognized globally for its innovative green hydrogen-based solutions in sectors like agriculture, defence, real estate, and oil & gas. h2e’s micro-grids have been installed in Germany, the USA, Korea, and China, showcasing its international reach.
Speaking at the event, Siddharth Mayur expressed pride in contributing to India’s green energy journey. “We are not just developing hardware; we are creating solutions and focusing on skill development to build a sustainable value chain. From Pune, we aim to serve both domestic and export markets,” said Sidharth.
Maharashtra’s Role in Green Energy
This investment reinforces Maharashtra Chief Minister Devendra Fadnavis’s vision of making the state a hub for green energy technologies. Pune, already known as the Cultural, Educational, Software, and Automobile Capital of India, is now emerging as the Green Hydrogen Capital, thanks to pioneering efforts by companies like h2e.
The company is also setting up Maharashtra’s—and possibly India’s—first SAF production plant in Pune. This development underscores h2e’s commitment to fulfilling global sustainability goals and India’s growing leadership in green technology.
A Bright Future
The MoU signed at WEF 2025 is expected to have far-reaching impacts, creating jobs, fostering innovation, and positioning India as a global leader in the green hydrogen economy. With its ambitious initiatives, h2e Power Systems is well on its way to becoming India’s first Green Hydrogen Unicorn, a proud achievement for Pune and the nation.
