Matrix Gas to set up 500cr electrolyser plant in Sanand

City-based Matrix Gas and Renewables Ltd will invest Rs 500 crore to set up an electrolyser manufacturing plant in Sanand GIDC. The company will soon start construction on 25 acres of land in Sanand GIDC. Chirag Kotecha, CEO of Matrix Gas, said, "We secured Rs 440 crore production-linked incentive (PLI) scheme from the govt to manufacture electrolysers for five years. In the first phase, we are going to invest Rs 500 crore to ensure 350MW electrolyser manufacturing capacity. The full-fledged production will start in July 2026. We will increase the capacity of the plant to 3GW by 2030 with further investments.