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Asia’s hydrogen train push may be less about rail and more about building a broader hydrogen economy. View More
TOPSHOT - A man takes a selfie with the Indian Railways' hydrogen-powered train after its flagging-off ceremony at Pandu Pindara railway station in Haryana's Jind city on July 17, 2026. India launched its first hydrogen-powered train July 17, joining a small group of nations testing the technology as part of efforts to decarbonise rail transport and cut dependence on fossil fuels. (Photo by Arun SANKAR / AFP via Getty Images)Arun Sankar | Afp | Getty Images A swath of Asian governments is trying to get ahead of the curve on hydrogen-powered transport.While the technology is years or even decades away from commercial success, its potential as a sustainable energy source has countries like India, Japan, China and South Korea working to establish programs to try it out.The motivations vary. Japan's push is part of its hydrogen society roadmap, while South Korea's reflects conglomerates' focus on integrated industrial hydrogen ecosystem that may include rail, according to Ravi Krishnaswamy, managing director at Frost & Sullivan Asia Pacific. China is building its fuel-cell supply chain for export competitiveness, while India is focusing on low-cost rail retrofits in line with its national self-sufficiency vision."There is no doubt on the fundamental ability of hydrogen to decarbonize hard-to-abate industries," Rajeev Pandey, senior analyst for hydrogen research at Rystad Energy, told CNBC. The long-term potential is "real but narrower than the hype," he said, adding that he expects the hydrogen economy to become commercially feasible at scale only in "defined lanes" on a 2030s and 2040s timeline. South Korea and India are among the most likely markets to see meaningful commercial adoption of hydrogen train over the next decade, Pandey said, while Japan could see a smaller commercial rollout.India launched its first hydrogen-powered train in last month. Indian Railways said in 2023 it envisioned running 35 hydrogen trains under its "Hydrogen for Heritage" initiative on heritage and hill routes. In July, India launched 12 pilot projects that involve deploying 70 hydrogen-powered vehicles, comprising 27 buses and 43 trucks, and setting up 16 hydrogen refueling stations across 21 routes in the country. The hydrogen fuel cell-powered train was more of a "technology demonstration" and may find use in some niche routes in the hilly areas of India, Vivek Lohia, managing director at Jupiter Wagons, a rolling stock provider to Indian Railways, told CNBC. A shift toward hydrogen could take over two decades, he said. Under the National Green Hydrogen Mission, New Delhi is investing in hydrogen fuel cell technology not just to reduce its reliance on fossil fuel but to become a global hub for "production, usage and export of green hydrogen and its derivatives."India could see around $34 billion invested in green hydrogen and green ammonia capacity by 2030, based on current investment plans, according to the Asian Development Bank. Asia's hydrogen race In Japan, East Japan Railway plans to put its hydrogen-hybrid train, HYBARI, into service by the end of fiscal 2027. "Investment in hydrogen-powered trains is still a niche decarbonization tool and a potential anchor-demand instrument for wider hydrogen ecosystem development in the long run, and not a direct replacement to electric rail corridors," Krishnaswamy said.Daejeon, south of Seoul, plans to deploy 34 hydrogen-powered trams by 2028, while South Korea is investing 32.1 billion won through 2027 in a hydrogen train demonstration project. The government expects the global hydrogen train market to grow by more than 25% annually to $26.4 billion by 2035. China has also made advances in hydrogen rail, with CRRC Changchun unveiling the country's first hydrogen-powered tourism train last year, said Krishnaswamy.  Hydrogen-powered rail should be viewed as part of a broader hydrogen market development strategy rather than a standalone transportation solution, Krishnaswamy said. It offers a visible and predictable way to help make early investments in production, storage and refueling infrastructure less risky. In India and China, rail could serve as one of several "strategic demand anchors" alongside industries such as steel and shipping, helping accelerate market creation and support the transition toward cost-competitive green hydrogen, he said.Energy security is another factor, according to both analysts. India, Japan, South Korea and China all remain heavily dependent on imported fossil fuels. Hydrogen can be stored and traded, while countries such as India and China can also produce it domestically, Pandey said.For Japan and South Korea, there is another strategic consideration: industrial competitiveness amid China's dominance in areas such as solar and batteries. Hydrogen and fuel cells are among the few clean-energy value chains where the two countries still have a technological lead, Pandey said. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
This is due to the policy drive by the State government as an open category farmers has to bear jst 10% of installation costs, says Gopal Kabra View More
Horizon Industrial Parks IPO GMP Today: Horizon Industrial Parks IPO enters its final bidding day with 24% subscription after Day 2 and a modest 2% grey market premium. The Rs 2,600 crore issue is entirely a fresh issue and primarily targets debt reduction. Despite strong FY26 income growth, widening losses remain a concern, while India’s expanding logistics sector offers long-term growth potential. View More
The Horizon Industrial Parks IPO is on its final day of bidding and has been subscribed 1.45 times so far. With no grey market premium ( GMP ), market expectations point towards a potentially flat listing. The retail investor portion is subscribed 95%, with bids placed for the 4.55 crore shares reserved for the category. Qualified Institutional Buyers (QIBs) have shown stronger interest, with their portion subscribed 1.85 times. The Rs 2,600 crore IPO comprises entirely of a fresh issue of 43.34 crore shares. Bidding closes on August 19, 2026, with the IPO allotment expected to be finalized on August 20. The company has fixed the IPO price band at Rs 57–Rs 60 per share, with a minimum lot size of 250 shares. At the upper price band, retail investors will require a minimum investment of Rs 15,000 for one lot. Also Read: Lalithaa Jewellery Mart IPO Day 3: GMP indicates 20% premium, Subscribed 3.07x; should you subscribe? Live Events The shares are proposed to be listed on both the NSE and BSE , with the tentative listing date set for August 24, 2026. JM Financial Ltd. is the book-running lead manager for the issue, while KFin Technologies Ltd. is acting as the registrar. Horizon Industrial Parks IPO Subscription Status On Day 3, as of 4:50 pm, the Horizon Industrial Parks IPO was subscribed 1.45 times overall, with bids received for 25.13 crore shares out of the total shares on offer. The retail investor portion was subscribed 95%, with bids placed for the 4.55 crore shares reserved for Retail Individual Investors (RIIs). The Qualified Institutional Buyers (QIBs) category was subscribed 1.85 times, with bids received for the 13.65 crore shares allocated to the segment. Meanwhile, the Non-Institutional Investor (NII) portion was subscribed 97%, against the 6.82 crore shares on offer. Horizon Industrial Parks IPO GMP The Horizon Industrial Parks IPO grey market premium (GMP) has slipped to zero from an earlier 2% premium. The latest GMP indicates limited investor enthusiasm in the grey market and points towards a potentially flat listing around the upper issue price of Rs 60 per share. At the current GMP, the IPO is estimated to list at around Rs 61 per share, implying a potential gain of approximately Rs 1 per share for investors who receive shares at the upper end of the price band. Also Read: Sunshine Pictures IPO GMP Day 2: GMP signals 21% listing gain, issue subscribed 4.33x. Should you apply How IPO proceeds will be utilised The company intends to use the net proceeds from the IPO primarily to reduce its debt obligations. Of the total proceeds, Rs 2,250 crore has been earmarked for the repayment and/or prepayment of certain borrowings. A substantial portion of the funds will go towards repaying loans availed by the company and its wholly owned subsidiaries, including Bagur Logistics Park Pvt. Ltd., Embassy Industrial Park Hosur Pvt. Ltd., Farukhnagar Logistics Parks LLP, FRK II Industrial Park Pvt. Ltd., Goodluck Buildtech Pvt. Ltd., ILV Distripark Pvt. Ltd., ILV Distripark (MWC) Pvt. Ltd., Jindpur Industrial Park Pvt. Ltd., and Kalina Warehousing Pvt. Ltd., among others. The proposed debt reduction is expected to strengthen the company’s balance sheet and lower its financial obligations and associated costs. Any surplus proceeds may be utilised for general corporate purposes, subject to applicable laws and regulations. Financial Performance Horizon Industrial Parks Ltd. recorded a 75% year-on-year increase in total income, which rose from Rs 439.35 crore in FY25 to Rs 767.84 crore in FY26. Despite the strong growth in income, profitability remained under pressure, with the company’s net loss widening to Rs 203 crore in FY26 from Rs 178 crore in FY25. About Horizon Industrial Parks Incorporated in 2009, Horizon Industrial Parks, backed by Blackstone Group, is India’s largest industrial and logistics infrastructure developer, owner, and operator by total network, according to a JLL report. As of the DRHP date, the company owns 45 logistics and industrial assets across 10 major Indian cities, totaling 58.01 million square feet (msf). The company develops and leases large, modern warehouses and industrial facilities to major companies. Its core asset types include Fulfillment Centers (Warehousing), Industrial Facilities, and In-City Centers: Located close to consumers to support last-mile delivery and used for dark stores, pharmaceuticals, cloud kitchens, retail, and services. The company has a total pipeline of 6.31 msf across seven cities. In addition, the company offers turnkey solutions, solar energy solutions, cold storage facilities, on-site staff accommodation, skill development centers, and other value-added services. As of November 30, 2025, the company has served more than 100 customers across key sectors, including e-commerce, retail, fast-moving consumer goods (“FMCG”), renewable energy, auto-ancillary, and manufacturing. Its scale, technical capabilities, network of strategically located sites, and full-service offerings enable it to partner with both multinational corporations (“MNCs”) and domestic companies. Also Read: Shankesh Jewellers IPO Day 2: GMP, subscription status. Should you subscribe? Should you subscribe? According to a Master Capital Services research report, India’s industrial and logistics sector is poised for strong growth, driven by rising manufacturing, consumption, e-commerce activity and increasing demand for Grade A infrastructure. Combined Grade A and B stock reached 531.6 msf in CY2025, growing at a 15.6% CAGR during CY2020–CY2025, while Grade A stock is projected to grow at a 25.3% CAGR to 943.6 msf by CY2030. Occupancy is also expected to rise from 92.4% in CY2025 to 96.8% by CY2030, highlighting sustained demand for premium facilities. In this favourable environment, Horizon Industrial Parks is well positioned to benefit through its strategically located Grade A fulfilment centres, industrial facilities and in-city centres. Its integrated solutions—including built-to-suit and plug-and-play facilities, cold storage, energy and material-handling solutions—help customers improve operational efficiency. With strong customer relationships, technical capabilities, a healthy development pipeline and a focus on acquisitions and greenfield expansion, Horizon is well placed to capture India’s growing demand for modern industrial and logistics infrastructure. Investors may consider the IPO as a potential long-term investment opportunity. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! 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A British Gas customer experienced an astonishing seven-week ordeal due to a clerical error resulting in a £38,000 overpayment. The lack of clear recovery procedures from customer service compounded the issue. Similarly, another homeowner faced bizarre phantom gas bills lingering for months after the removal of their meter. These situations underscore significant administrative shortcomings within utility firms. After persistent media coverage and follow-ups, both customers received deserved compensation. View More
The project will be developed under a Power Purchase Agreement with SECI and is expected to be commissioned within 24 months of the PPA execution View More
Horizon Industrial Parks IPO entered its second day of bidding with a 14% subscription on Day 1. Backed by Blackstone, the Rs 2,600 crore issue is priced between Rs 57-Rs 60. With a 3% GMP and proceeds primarily aimed at debt repayment, experts view it as a solid long-term bet. View More
The Horizon Industrial Parks IPO has entered its second day of bidding, with the issue witnessing a relatively muted response so far. In the grey market, the IPO is currently commanding a mild 3% premium over its issue price, pointing to expectations of a positive, but modest, listing gain. On Day 1, the issue was subscribed 14% overall, against the 25.13 crore shares on offer. The retail portion saw 19% subscription, with bids received for the 4.55 crore shares reserved for retail investors. The Rs 2,600 crore IPO comprises an entirely fresh issue of 43.34 crore shares. The bidding window will remain open until August 19, 2026, while the IPO allotment is expected to be finalised on August 20. The company has fixed the price band at Rs 57–Rs 60 per share, with a minimum lot size of 250 shares. At the upper price band, retail investors will need to invest a minimum of Rs 15,000 for one lot. The shares are proposed to be listed on both the NSE and BSE, with the tentative listing date set for August 24, 2026. Live Events JM Financial Ltd. is among the book-running lead managers for the issue, while Kfin Technologies Ltd. is acting as the registrar. Horizon Industrial Parks IPO subscription status: The Horizon Industrial Parks IPO opened on a measured note on Day 1, with the issue receiving an overall subscription of 14%. Investors bid for shares equivalent to 14% of the 25.13 crore shares offered. Among the different investor categories, Retail Individual Investors (RIIs) led the subscription activity, with their portion subscribed 19% of the 4.55 crore shares reserved for them. Qualified Institutional Buyers (QIBs) also showed healthy initial interest, subscribing to 18% of their allocation. Institutional participation will remain an important indicator as the IPO moves towards its closing days. Meanwhile, Non-Institutional Investors (NIIs) took a more cautious approach, with their category subscribed 3% of the shares offered. Horizon Industrial Parks IPO GMP: The Horizon Industrial Parks IPO continues to show a mildly positive trend in the grey market. The latest GMP stands at Rs 2 per share, translating to a 3% premium over the upper issue price of Rs 60. Based on the current GMP, the IPO is estimated to list at around Rs 62 per share, indicating a potential gain of approximately Rs 2 per share for investors at the upper price band. Horizon Industrial Parks IPO – Objects of the issue: The company intends to use the net proceeds from the IPO primarily to reduce its debt obligations. Of the total proceeds, Rs 2,250 crore has been earmarked for the repayment and/or prepayment of certain borrowings. A substantial portion of the funds will go towards repaying loans availed by the company and its wholly owned subsidiaries, including Bagur Logistics Park Pvt. Ltd., Embassy Industrial Park Hosur Pvt. Ltd., Farukhnagar Logistics Parks LLP, FRK II Industrial Park Pvt. Ltd., Goodluck Buildtech Pvt. Ltd., ILV Distripark Pvt. Ltd., ILV Distripark (MWC) Pvt. Ltd., Jindpur Industrial Park Pvt. Ltd., and Kalina Warehousing Pvt. Ltd., among others. The proposed debt reduction is expected to strengthen the company’s balance sheet and lower its financial obligations and associated costs. Any surplus proceeds may be utilised for general corporate purposes, subject to applicable laws and regulations. Financial performance: Horizon Industrial Parks Ltd. recorded a 75% year-on-year increase in total income, which rose from Rs 439.35 crore in FY25 to Rs 767.84 crore in FY26. Despite the strong growth in income, profitability remained under pressure, with the company’s net loss widening to Rs 203.65 crore in FY26 from Rs 178.78 crore in FY25. About Horizon Industrial Parks: Incorporated in 2009, Horizon Industrial Parks, backed by Blackstone Group, is India’s largest industrial and logistics infrastructure developer, owner, and operator by total network, according to a JLL report. As of the DRHP date, the company owns 45 logistics and industrial assets across 10 major Indian cities, totalling 58.01 million square feet (msf). The company develops and leases large, modern warehouses and industrial facilities to major companies. Its core asset types include Fulfilment Centres (Warehousing), Industrial Facilities, and In-City Centres: Located close to consumers to support last-mile delivery and used for dark stores, pharmaceuticals, cloud kitchens, retail, and services. The company has a total pipeline of 6.31 msf across seven cities. In addition, the company offers turnkey solutions, solar energy solutions, cold storage facilities, on-site staff accommodation, skill development centres, and other value-added services. As of November 30, 2025, the company has served more than 100 customers across key sectors, including e-commerce, retail, fast-moving consumer goods (“FMCG”), renewable energy, auto-ancillary, and manufacturing. Its scale, technical capabilities, network of strategically located sites, and full-service offerings enable it to partner with both multinational corporations (“MNCs”) and domestic companies. Should you subscribe? According to a Master Capital Services research report, India’s industrial and logistics sector is poised for strong growth, driven by rising manufacturing, consumption, e-commerce activity and increasing demand for Grade A infrastructure. Combined Grade A and B stock reached 531.6 msf in CY2025, growing at a 15.6% CAGR during CY2020–CY2025, while Grade A stock is projected to grow at a 25.3% CAGR to 943.6 msf by CY2030. Occupancy is also expected to rise from 92.4% in CY2025 to 96.8% by CY2030, highlighting sustained demand for premium facilities. In this favourable environment, Horizon Industrial Parks is well positioned to benefit through its strategically located Grade A fulfilment centres, industrial facilities and in-city centres. Its integrated solutions, including built-to-suit and plug-and-play facilities, cold storage, energy and material-handling solutions, help customers improve operational efficiency. With strong customer relationships, technical capabilities, a healthy development pipeline and a focus on acquisitions and greenfield expansion, Horizon is well placed to capture India’s growing demand for modern industrial and logistics infrastructure. Investors may consider the IPO as a potential long-term investment opportunity. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)
New facility to form part of Saatvik Solar’s broader manufacturing development at Gopalpur, where it is already progressing with its Phase I integrated manufacturing facility View More
The new facility will form part of Saatvik Solar's broader manufacturing development at Gopalpur, where the company is already progressing with its Phase I integrated manufacturing facility View More
Juniper Green Energy Ltd (JGEL) on Monday said it has received a Letter of Award (LoA) from the Solar Energy Corporation of India Limited (SECI) for a 230 MW Firm and Dispatchable Renewable Energy (FDRE) Round-the-Clock (RTC) Power Project at a tariff of Rs 5.26 per unit.
Juniper Green Energy emerged the winning bidder for the project in the e-Reverse auction conducted by SECI for its 1,000 MW FDRE Round-the-Clock Renewable Energy tender on August 6, 2026, a company statement said.
The tender is among India's most innovative renewable procurement tenders requiring renewable energy projects and storage systems to mimic the reliability profile of thermal generation.
The project will be implemented in Rajasthan and will be connected to the National Grid. It will be backed by a 25-year Power Purchase Agreement (PPA) with SECI.
It will leverage Juniper Green Energy's integrated development capabilities across solar, wind and battery storage technologies to ensure consistent and reliabl View More