On Jan 4, 2022, Indian Union Government approved a total outlay of INR 19,744 crore for NGHM (National Green Hydrogen Misson), to realize its ambition of making India the Global Hub for production, usage and export of green hydrogen and its derivatives. The Government has targeted to produce at least 5 MMT (Million Metric Tonnes) of green hydrogen annually by 2030, which would require 60 – 100 GW (Giga Watt) electrolyser capacity and 125 GW renewable energy capacity. This initiative is expected to reduce carbon dioxide emissions by 50 MMT per year. NGHM will also lead to significant reduction in dependence on fossil fuel imports and will enable India to assume technology and market leadership in green hydrogen. Currently, Government is working closely with private enterprises in India and across the world to adopt green hydrogen as the clean solution for energy, industry, and mobility. Several large corporates have committed to investing in developing green hydrogen capabilities, which will be critical for India’s long term energy security and carbon reduction goals.
Strategic Interventions for Green Hydrogen Transition (SIGHT) is the key mission strategy of NGHM, which delineates a comprehensive incentive programme to facilitate growth of green hydrogen industry and associated value chain in the industry. SIGHT consists of two distinct financial incentive mechanism, with a total outlay of INR 17,490 crore, out of which INR 4,440 crore is demarcated for domestic manufacturing of electrolysers and INR 13,050 crore for green hydrogen production. It is expected that the proposed incentives and interventions under the programme will significantly reduce the cost of green hydrogen and ensure establishment of a domestic manufacturing ecosystem by de-risking first movers and providing viability support for early innovators in the sector till the production of Green Hydrogen and its derivatives achieves scale and sustainability.
Stay tuned for further disclosures on steps GreenH is taking for contributing to the Indian ambitions for Green Hydrogen.
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