Sterling Powergensys Secures Mega Project Subsidy Under Maharashtra’s PSI Scheme

Sterling Powergensys Ltd (SPL), a BSE-listed energy and engineering firm, has received an official offer letter for Industrial Promotion Subsidy (IPS) under the Maharashtra government’s Package Scheme of Incentives (PSI) 2019. The approval marks a major milestone in SPL’s green energy expansion strategy, particularly in hydrogen and solar infrastructure.

 

Key Highlights:

 

Offer Letter Received: SPL confirmed receipt of the IPS offer letter for its mega projects, qualifying under the PSI-2019 framework aimed at boosting industrial investment in Maharashtra.

 

Project Scope: The approved projects include SPL’s flagship Green Hydrogen and Hydrogen Peroxide manufacturing facility in Raigad district, spread across 350 acres.

 

Investment Scale: The total project cost is pegged at ₹520 crore, covering electrolyser plants, solar PV installations, and forward integration units for ammonia and hydrogen peroxide.

 

Production Targets:

 

Green Hydrogen: 7,500 kg/hr

 

Hydrogen Peroxide: 120 MT/day (Food Grade)

 

Ammonia: 20 MT/day

 

Revenue Outlook: SPL expects combined revenues of ₹246 crore in FY27, scaling up to ₹528 crore by FY31, with a minimum net profit margin of 17.92%.

 

Strategic Impact: The IPS subsidy will help SPL reduce upfront capex, attract foreign investment, and accelerate its transition into a green hydrogen leader.

 

Global Footprint: SPL is also expanding operations in Brazil and the UAE to support merchant exports and renewable energy trade.

 

This subsidy approval not only validates SPL’s green energy roadmap but also positions it as a key player in India’s hydrogen economy.

 

Source: Moneycontrol, SPL Investor Filings, Economic Times EnergyWorld