India Aims for $9.52b Investment in Green Hydrogen Sector
Key Ideas
  • India's National Green Hydrogen Mission plans to attract $9.52b in investments, creating 600,000 jobs and reducing reliance on imported natural gas and ammonia.
  • The country aims to produce 5 MMT of green hydrogen by 2030, requiring a $100b investment and 125 GW of new renewable energy capacity.
  • India targets 500 GW of non-fossil energy capacity by 2030, aiming for net zero emissions by 2070 with a projected hydrogen demand of 29 MMT per annum by 2050.
  • Ajay K. Sood emphasizes the importance of research and technological advancements to make green hydrogen affordable and scalable for India's sustainable energy goals.
India is ramping up efforts to establish itself as a major player in the green hydrogen sector with its National Green Hydrogen Mission, aiming to attract a significant investment of $9.52 billion. Prahlad Venkatesh Joshi, the Union Minister for New and Renewable Energy, projects that this investment will lead to the creation of 600,000 jobs and substantial savings of $1.19 billion by reducing the country's dependence on imported natural gas and ammonia. Hardeep S. Puri, the Minister of Petroleum and Natural Gas, disclosed that India is targeting the production of 5 million metric tonnes (MMT) of green hydrogen by 2030, necessitating a $100 billion investment and the development of 125 gigawatts (GW) of new renewable energy capacity. Furthermore, Bhupinder S. Bhalla, Secretary of the Ministry of New and Renewable Energy, outlined India's ambitions to achieve 500 GW of non-fossil energy capacity by 2030 and reach net zero emissions by 2070. The country anticipates a hydrogen demand of 29 MMT annually by 2050. Ajay K. Sood, the Principal Scientific Adviser to the Government of India, stressed the importance of innovation and technology advancements in making green hydrogen cost-effective and scalable. Sood emphasized the continual support for research and development to overcome challenges and fully unlock the potential of green hydrogen for India's clean energy objectives.
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