Indian Companies Embrace Green Hydrogen Revolution with Massive Bids
Key Ideas
- Fourteen companies, including prominent players like Reliance Green Hydrogen and Avaada, bid for financial incentives tied to green hydrogen production under India's SIGHT Scheme.
- Indian private sector shows significant interest in renewable energy and green hydrogen, with plans to set up large capacities and export products globally.
- Government schemes like SIGHT offer financial incentives and aim to boost domestic green hydrogen production to 5 million tonnes per annum by 2030, aligning with renewable energy capacity additions.
- Companies like Waaree Energies and Avaada are actively investing in green hydrogen projects, with Waaree also venturing into electrolyser manufacturing capacity through a subsidiary.
Fourteen companies, including Reliance Green Hydrogen, L&T Energy, ReNew E-fuels, Waaree Clean Energy Solution, Avaada Green H2, and AM Green, placed bids for financial incentives tied to green hydrogen production under India's Strategic Interventions for Green Hydrogen Transition (SIGHT) Programme. The Solar Energy Corporation of India (SECI) announced the bidding results, with companies vying to set up 450,000 tonnes per annum of green hydrogen capacities. The private sector in India is heavily investing in renewable energy, particularly green hydrogen, with plans for significant capacity installations. Notable mentions include Avaada's plans for green hydrogen and derivatives production facilities for export, and Waaree Energies diversifying into green hydrogen with plans for electrolyser manufacturing capacity. The government's initiatives like the SIGHT Scheme offer financial incentives capped at Rs 50 per kg in the first year, decreasing in subsequent years, to drive domestic green hydrogen production. The National Green Hydrogen Mission aims to boost India's green hydrogen production capacity to 5 million tonnes per annum by 2030, coupled with renewable energy capacity additions, fostering a green energy transition.
Topics
Green Hydrogen
Renewable Energy
Investment
Energy Transition
Manufacturing
Private Sector
Auction
Capacity Building
Government Scheme
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