India Accelerates Green Hydrogen Production with Financial Incentives
Key Ideas
- India introduces viability gap funding for electrolyser manufacturing to boost green hydrogen production.
- The National Green Hydrogen Mission targets 3,000 MW capacity annually and aims to develop 5 MMT of green hydrogen yearly.
- The initiative seeks to catalyze investments of over Rs 8 lakh crore and create significant employment opportunities.
- Strategic interventions and pilot projects will transform regions into Green Hydrogen Hubs, aligning with COP26 commitments.
India is ramping up its efforts to enhance green hydrogen production by implementing viability gap funding for electrolyser manufacturing. This initiative is part of the National Green Hydrogen Mission's goal to achieve a 3,000 MW capacity each year and produce 5 MMT of green hydrogen annually. Minister of State for New & Renewable Energy, Shripad Yesso Naik, highlighted the planned financial incentives and the broader objective of attracting investments worth over Rs 8 lakh crore while generating employment opportunities. The mission also focuses on boosting demand, production, and export strategies for green hydrogen. Furthermore, strategic interventions and pilot projects are set to transform regions suitable for large-scale hydrogen activities into Green Hydrogen Hubs. These actions are aligned with the country's target of reaching 500 GW of non-fossil energy capacity by 2030, demonstrating India's commitment to sustainability and energy transition.
Topics
Policy
Green Hydrogen
Renewable Energy
Sustainability
Investment
Energy Transition
Manufacturing
Employment
Government Initiative
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