India's Green Hydrogen Mission: Driving Renewable Energy Growth
Key Ideas
- The Indian government is investing Rs 19,744 crore in the National Green Hydrogen Mission to establish a robust green hydrogen ecosystem and accelerate production.
- The mission is set to attract over Rs 8 trillion in investments, create more than 600,000 jobs, reduce fossil fuel imports, and mitigate 50 million metric tonnes of annual greenhouse gas emissions.
- Strategic interventions like the SIGHT Programme aim to incentivize domestic electrolyser manufacturing, green hydrogen production, and the identification of Green Hydrogen Hubs across the country.
- Aligned with its commitments at COP26, India aims to achieve 500 GW of installed electricity capacity from non-fossil sources by 2030, showcasing significant progress with 211.40 GW already installed as of October 31, 2024.
The Indian government is making significant progress in advancing its National Green Hydrogen Mission to drive sustainable energy development in the country. With an initial investment of Rs 19,744 crore, the mission aims to establish a robust green hydrogen ecosystem by providing viability gap funding for electrolyser manufacturing capacity and green hydrogen production. Minister of State for New & Renewable Energy, Shripad Yesso Naik, highlighted that contracts for 3,000 MW of electrolyser manufacturing capacity and 412,000 tons per annum of green hydrogen production capacity have already been awarded or are in process. The mission's comprehensive strategy goes beyond production to target broader economic and environmental objectives, with projections to attract substantial investments, create jobs, reduce fossil fuel imports, and mitigate greenhouse gas emissions. The government's Strategic Interventions for Green Hydrogen Transition Programme (SIGHT) provides financial incentives for domestic manufacturing and green hydrogen production, along with plans to support pilot projects and establish Green Hydrogen Hubs. India's commitments at COP26 drive its aim to achieve 500 GW of installed electricity capacity from non-fossil sources by 2030, where it has already made significant progress with 211.40 GW installed as of October 31, 2024.
Topics
India
Renewable Energy
Investment
Energy Transition
Job Creation
Manufacturing
Greenhouse Gas Emissions
Government Initiative
COP26
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