India's Second Green Hydrogen Auction Sees Strong Interest from Companies
Key Ideas
- India's second green hydrogen auction has attracted 14 bids, surpassing the capped limit of 450,000 tonnes per year with a total of 626,500 tonnes per year.
- Companies like AM Green Ammonia, Avaada GreenH2, Oriana Power, and Reliance Green Hydrogen are participating in the auction, showcasing industry interest in green hydrogen production.
- The Incentive Scheme for Green Hydrogen Production offers producers a three-year incentive with declining prices per kilogram over the years, encouraging sustainable production.
- The oversubscription in the first tranche and the current strong bidding activity reflect a positive sentiment towards green hydrogen in India, aligning with the Prime Minister's vision for the country's hydrogen sector.
India's second green hydrogen auction has generated significant interest, with 14 bids being submitted, exceeding the capped limit. The auction, part of the Incentive Scheme for Green Hydrogen Production, aims to support the production of 450,000 tonnes per year but has already garnered bids for 626,500 tonnes per year. Companies such as AM Green Ammonia, Avaada GreenH2, Oriana Power, and Reliance Green Hydrogen are actively participating in the auction. The scheme offers a three-year incentive structure with decreasing prices per kilogram, incentivizing sustainable hydrogen production practices. The oversubscription in the previous funding round and the current high level of bidding activity indicate a positive outlook towards green hydrogen in India. This aligns with the vision set by the Indian Prime Minister, Narendra Modi, to establish the country as a global leader in green hydrogen production, utilization, and export. The Solar Energy Corporation of India (SECI) is managing the auction process, with a focus on rewarding bidders with the lowest average incentive cost over three years. Overall, the strong industry participation and government support signal promising growth prospects for green hydrogen in India.
Topics
Green Hydrogen
Renewable Energy
Green Technology
Economic Development
Energy Production
Government Funding
Auction
Bidding Process
Incentive Scheme
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