India's Ambitious Push for Green Hydrogen: Massive Investment Needed by 2030
Key Ideas
- India aims to increase green hydrogen production to meet decarbonisation goals, requiring INR 8-10 trillion investment by 2030.
- Annual hydrogen usage projected to reach 15-20 million tonnes by 2030, showcasing a significant shift towards sustainable energy sources.
- An additional INR 4.5 trillion is earmarked for establishing renewable energy capacity to support the hydrogen production infrastructure.
- This initiative signifies India's commitment towards sustainable practices, economic development, and reducing carbon emissions in line with global environmental targets.
A report highlights the substantial investment needed in India to boost green hydrogen production and align with decarbonisation objectives by 2030. The study, conducted by SBI Caps, indicates that an estimated INR 8-10 trillion investment is crucial to scale up the production of green hydrogen. By envisioning an annual consumption of 15-20 million tonnes of hydrogen by 2030, India's focus on sustainable energy sources becomes evident. Furthermore, an additional INR 4.5 trillion is proposed for establishing renewable energy capacities that would drive the operations of the hydrogen production facilities. This significant financial commitment underscores India's proactive approach towards fostering economic growth through sustainable practices. The country's strategic move not only aims at reducing carbon emissions but also contributes to a greener and more eco-friendly industrial landscape. By embracing such initiatives, India showcases its dedication to sustainable development and environmental stewardship, aligning itself with the global agenda for a cleaner and greener future.