India's Green Hydrogen Revolution: A Billion-Dollar Investment in a Decade
Key Ideas
- India is set to witness a massive green hydrogen expansion with investments worth Rs 10 lakh crore expected by 2030, driven by the National Green Hydrogen Mission.
- The country aims to produce 5 million tonnes per annum of green hydrogen and establish 20 GW of electrolyser manufacturing capacity by the end of the decade.
- Green hydrogen is anticipated to play a significant role in decarbonizing industries like fertilizers, refining, and steel, potentially replacing up to 80% of fossil fuel use in these sectors.
- Prices of green hydrogen are expected to decrease significantly by 2030, making it more competitive, with the government offering production-linked incentives to support growth.
India is embarking on a significant green hydrogen journey with a massive investment expected in the sector by 2030. The National Green Hydrogen Mission aims to ramp up green hydrogen production and electrolyser manufacturing capacity in the country. The SIGHT Programme, with an investment of Rs 17,000 crore, stands at the core of this green transition. With initiatives like production-linked incentives and support for electrolyser capacity expansion, India is gearing up to become a global player in the green hydrogen market. The move towards green hydrogen is not only expected to reduce fossil fuel imports and cut greenhouse gas emissions but also revolutionize industries like fertilizers, refining, and steel by significantly reducing their reliance on fossil fuels. Key ports are being developed to facilitate the export of green hydrogen and ammonia, further boosting India's competitiveness in the global market. With the projected drop in green hydrogen prices by 2030, coupled with the government's proactive measures, India is well on its way towards a sustainable and greener future.
Topics
Green Hydrogen
Renewable Energy
Investment
Energy Transition
Carbon Reduction
Economic Development
Government Initiatives
Industry Decarbonization
Global Competitiveness
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