In an effort to reduce emissions and establish itself as a major exporter in the field of green hydrogen business, India is preparing a $2 billion incentive program, three sources told Reuters.
An industry manager in renewable energy and a senior government official said the 180 billion rupees ($2.2 billion) incentive intends to cut the cost of producing green hydrogen by a fifth over the following five years. They claimed that growing the industry's size would help to achieve this.
The Future of Green Hydrogen Industry
Fuel made of hydrogen is produced using electrolysis, an electrical technique that splits water. Green hydrogen, a fuel with no greenhouse gas emissions, is produced when the electrolyzers that accomplish that are driven by renewable energy.
Adani Enterprises (ADEL.NS), JSW Energy (JSWE.NS), Acme Solar (ACMO.NS), Indian Oil (IOC.NS), NTPC (NTPC.NS), Reliance Industries (RELI.NS), and others have significant ambitions for green hydrogen.
The third-richest person in the world, Gautam Adani, and France's TotalEnergies (TTEF.PA) announced in June that they will work together to build the "biggest green hydrogen ecosystem in the world."
Indian Government Plans For Green Hydrogen Industry
According to the industry manager and another government official, the Indian government anticipates that by 2030, the sector will invest 8 trillion rupees in green hydrogen and its derivative green ammonia. Nitrogen and hydrogen are combined to create green ammonia, which can be utilized as a fuel, a practical way to transport hydrogen, or in the fertilizer business.
The proposal for green hydrogen is likely to be known as "Strategic Intervention for Green Hydrogen Transition (SIGHT)" and will be divided into 45 billion rupees for electrolyzer production for five years and 135 billion rupees for green hydrogen and green ammonia production for three years, according to the manager and second official.
According to an industry insider, India plans to export 70% of its production to nations like South Korea, Japan, and the European Union. The official also said that demand for derivatives like green ammonia was also quite high.
The national capacity to produce electrolyzers is expected to reach 15 gigawatts by 2030, according to the government's projections. It would almost be ten times the present global capacity.
A CSR Initiative of
Designed and Executed by
Implemented by
Technology is a useful servant, but a dangerous master, it was rightly said. Electronic devices have grown into an inevitable part of our daily lives.
