India Boosts Green Hydrogen Production: Nine Companies Awarded Incentives
Key Ideas
- Nine companies in India have been awarded incentives by SECI for setting up green hydrogen production facilities, contributing to the country's clean energy goals.
- Reliance Green Hydrogen and Green Chemicals Ltd emerged as winners in both Tranche I and Tranche II, demonstrating strong commitment to green hydrogen.
- The government's incentive structure includes caps on incentives per kg of green hydrogen production over the first three years to encourage steady growth in the sector.
- India's National Green Hydrogen Mission, with significant funding and emphasis on production-linked incentives, aims to boost green hydrogen and electrolyser manufacturing.
The Solar Energy Corporation of India (SECI) has awarded Letters of Award to nine companies for establishing green hydrogen production facilities, as part of the National Green Hydrogen Mission. These companies, selected from 14 bidders, will receive government incentives under the programme. Reliance Green Hydrogen and Green Chemicals Ltd, L&T Energy Green Tech Ltd, and other winners have 36 months to commission their production capacities. In a previous round, Reliance emerged as a winner in both Tranche I and Tranche II. The government offers significant incentives, with a total of ₹5,400 crore allocated for the second tranche, encouraging the establishment of 4,50,000 tons per year of green hydrogen production capacity. The incentivization structure includes decreasing caps over three years to promote a sustainable growth trajectory. The National Green Hydrogen Mission, with an initial outlay of ₹19,744 crore, focuses on production-linked incentives for green hydrogen and electrolyser manufacturing, signaling India's commitment to clean energy and economic development. This initiative reinforces India's standing in the global green hydrogen market, showcasing its dedication to sustainable energy practices.
Topics
India
Renewable Energy
Clean Energy
Sustainability
Investment
Economic Development
Global Market
Government Incentives
Production Capacity
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