Stock Analysis, IPO, Mutual Funds, Bonds & More

Bloom Energy seeks government support to push fuel-cell based power generation

Bloom Energy currently uses natural gas supplied by GAIL and has installed another capacity at an upcoming commercial space in Bengaluru.

ET Bureau|
Last Updated: Aug 29, 2019, 06.25 PM IST
Getty Images
BENGALURU: Fuel cell-based electricity generation company Bloom Energy has sought the Union government’s support in boosting use of such alternative sources of energy.

The US-based company, which was founded by former NASA scientist K R Sridhar, said it could generate and distribute electricity for domestic use at “grid parity”, given the government supports by making policies, bringing natural gas under Goods and Services Tax (GST) etc.

Bloom Energy Server generates power through an electro-chemical process that can operate using natural gas, biogas from landfills, food or animal waste, or hydrogen as fuel. The company counts technology giants such as Google, Walmart, E-Bay globally and has installed capacity for electricity generation for chipmaker Intel in Bengaluru.

Bloom Energy currently uses natural gas supplied by Gas Authority of India Ltd (GAIL) here and has installed another capacity at an upcoming commercial space in Bengaluru.

Venkat Venkataraman, chief technology officer, Bloom Energy, said providing a GST concession for fuel cells would help boost industries to adopt such non-polluting source of energy; while exemption of customs duty on equipment to set up capacities could encourage more use of fuel-cell based energy.

While policy support and initiatives for cost reduction would play a key role; pushing fuel-cell based power generation should mean a huge gain for environmental sustainability, said B C Tripathi, former chairman and managing director, GAIL.
(Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

Also Read

Alphabet cuts cord on power-generating kite business

New power generation companies to be taxed at 15%

Coal stocks touch 107 mt, enough for two months power generation

Tamil Nadu to increase wind power generation capacity by 440 MW

Core sector grows by 2.2% in Jan as power generation picks up

Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links

Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service