India's SIGHT Scheme Paves the Way for Green Hydrogen Revolution
Key Ideas
- Fourteen major companies, including Reliance Green Hydrogen and Green Chemicals, participate in the SIGHT Scheme's bidding process, aiming to boost green hydrogen production.
- The scheme offers significant financial incentives, with a total cap of ₹5,400 crore, to accelerate the transition towards green hydrogen.
- India's National Green Hydrogen Mission targets a production capacity of 5 million metric tonnes per annum and aims to add 125 GW of renewable energy capacity.
- The mission also focuses on developing green hydrogen hubs to position India as a leader in the global green hydrogen market.
Fourteen major companies, such as Reliance Green Hydrogen and Green Chemicals, ReNew E-Fuels, and Avaada Green H2, have submitted bids under India's Strategic Interventions for Green Hydrogen Transition (SIGHT) Scheme. The scheme's second tranche, Mode-1-Tranche-II, worth Rs 5,400 crore, aims to accelerate green hydrogen production by providing financial incentives. The bidding process witnessed overwhelming participation, with significant capacity offered and received. The National Green Hydrogen Mission, launched in January 2023, targets a green hydrogen production capacity of 5 million metric tonnes annually and the addition of 125 GW of renewable energy capacity. The mission includes incentives for domestic electrolyser manufacturing and green hydrogen production, with a focus on developing green hydrogen hubs to position India as a global market leader. The SIGHT Scheme reflects a positive sentiment towards green hydrogen, with major companies competing for production capacity and driving India's transition towards a sustainable energy future.
Topics
India
Renewable Energy
Manufacturing
Green Initiatives
Bidding Process
Incentives
Pilot Projects
Energy Capacity
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