(Delhi / India) – India aims to become a global hub for the production, use and export of green hydrogen and its derivatives. This should help the country “advance the decarbonization of key economic sectors,” said the Ministry of New and Renewable Energy (MNRE).
Five million tons of hydrogen per year
The aim of the country's hydrogen strategy is to build production capacity of at least five million tonnes annually by 2030. There are also new renewable energy power plants with an installed capacity of 125 gigawatts, the output of which will be used in electrolysers with an output of 60 to 100 gigawatts.
According to analysts Mercom India, this will require investments of around eight trillion rupees (91 billion euros). According to the MNRE, this would create around 600.000 jobs. Annual greenhouse gas emissions fell by almost 50 million tons.
Incentive mechanisms for hydrogen production
To achieve this goal, the Indian Cabinet approved start-up financing of 197,44 billion rupees (2,24 billion euros) at its first meeting of the year. The largest share, around 175 billion rupees (1,98 billion euros), is earmarked for the “Strategic Interventions for Green Hydrogen Transition” program (SIGHT). The rest is shared by pilot projects, developers and researchers as well as component manufacturers.
Under SIGHT, various financial incentive mechanisms will be provided aimed at domestic electrolyser manufacturing and green hydrogen production. Regions capable of supporting large-scale production and/or use of hydrogen will be developed as green hydrogen hubs. The implementation of the strategies and programs is the responsibility of the MNRE.
Photos
India wants to install renewable energy power plants with an output of 125 gigawatts, the output of which will be used in electrolyzers with an output of 60 to 100 gigawatts. © MNRE
