Green Hydrogen Revolution in India: 5 Stocks to Watch
Key Ideas
- Indian Oil Corporation (IOC) and BPCL are investing in large-scale green hydrogen plants to reduce carbon emissions and align with the National Green Hydrogen Mission.
- GAIL has initiated its green hydrogen production using advanced PEM technology and is exploring blending options with natural gas for wider applications.
- NTPC's subsidiary, NGEL, is leading the green hydrogen front with a substantial investment in renewable energy and the production of various green hydrogen derivatives for export markets.
- The growth of green hydrogen initiatives in India signifies a shift towards cleaner energy solutions and a significant step towards decarbonizing hard-to-abate sectors.
The global focus on cleaner energy solutions has propelled green hydrogen into the spotlight as a promising alternative to traditional fossil fuels. The article highlights five Indian companies leading the charge in the green hydrogen sector.
1. Indian Oil Corporation (IOC) is venturing into green hydrogen by setting up a massive plant at its Panipat refinery, with a target to reduce carbon emissions significantly by 2027.
2. BPCL has commissioned a large Green Hydrogen Plant at the Bina Refinery, aiming for substantial carbon emissions reduction and forming a joint venture with Sembcorp for green energy projects.
3. GAIL, a prominent natural gas company, has initiated green hydrogen production at its Vijaipur facility, focusing on purity and efficiency, along with plans for blending with natural gas in its processes.
4. NTPC's subsidiary, NGEL, is investing heavily in green hydrogen projects to produce derivatives such as green methanol and sustainable aviation fuel for export markets, positioning itself as a key player in the renewable energy sector.
Overall, the article emphasizes the significance of these initiatives in driving India towards a cleaner, more sustainable energy future and highlights the potential for green hydrogen to revolutionize various industries while contributing to global efforts in combating climate change.
Topics
India
Renewable Energy
Clean Energy
Technology
Sustainability
Stock Market
Investment
Power Sector
Oil-&-gas-industry
Latest News