Maire Tecnimont Group, an Italian technology licensor and EPC (engineering, procurement and construction) contractor, expects the future energy needs of India lie between reliable traditional fuel and new-age green energy.
The group offers access to the worldwide commercially proven technology for bioethanol plants and empowers clients looking for plastic upcycling.
Maire Tecnimont signed an MoU with Indian Oil Corporation (IOC) for the plastic upcycling project, for which the joint feasibility work is under progress. It is also in advanced discussion with few PSUs and private companies to execute their sustainability initiatives.
The company through its subsidiary, Tecnimont , brings a complete solution under their know-how of green hydrogen, access to world-class ammonia, urea and carbon capture technologies. Tecnimont aims at supporting many oil and gas companies looking for decarbonisation measures and CCUs (carbon capture and utilisation).
Sathiamoorthy Gopalsamy, Managing Director, Tecnimont said India continues to be the second-largest consumer and third-largest producer of electricity in the world, and its energy consumption has doubled in the past two decades.
Tilt towards renewable energy
However, the mix is skewed upto 80 per cent towards traditional fuel compared to renewable sources. India intends to meet 50 per cent of its energy needs through renewable sources and has immense potential that needs planning, execution and maintenance for decades, he said.
“While we are thrilled with the recent shift in priorities for the sizable traditional energy players to envision global scale in green energy projects, we continue to witness a steady focus from the same players on other green fuel technology,” he said.
Projects with Adani, HPCL, IOC
Adani Enterprises, signed an MoU with Maire Tecnimont Group's subsidiaries NextChem and MET Development recently to explore production of green hydrogen, green ammonia and green urea mainly from renewable feedstock.
Tecnimont is executing a Hydrogen Gas Unit project of HPCL in Mumbai. Despite having investments into solar and hydro, the company is getting enquiries from many companies across sectors for investing in a more diverse green energy basket, he said.
The company is in the final leg of completing a project worth $225 million to implement a high-density polyethylene and polypropylene unit of HPCL-Mittal Energy at Bathinda in Punjab. The company has bagged three consecutive key projects from IOCand is working to implement them.
Overcame pandemic hurdles
While the pandemic posed an unprecedented set of challenges, Tecnimont managed it through agility and experience. The lockdown did affect the construction department initially due to physical, social distancing norms and government guidelines. However, these were resolved in time owing to stringent health and safety processes, along with modern digitalisation systems to enable remote working.
“We delivered 2,080 workstations to employees to maintain productivity levels and an ICT department set up a task force for on-demand technical support,” said Gopalsamy.