India’s National Green Hydrogen Mission gets Cabinet approval
The mission aims to produce 5mmt of green hydrogen annually by 2030.
The Union Cabinet led by Prime Minister Shri Narendra Modi has approved the National Green Hydrogen Mission which aims to ramp up the development of green hydrogen in India, with an initial investment of Rs 19,744 crore.
In a statement, the Cabinet said the mission aims to develop at least five million metric tonnes (mmt) of green hydrogen annually with a renewable energy capacity addition of around 125 gigawatts by 2030.
It also aims to secure over Rs 8 lakh crore in investments, create over 600,000 jobs, reduce fossil fuel imports by over Rs 1 lakh crore and avoid nearly 50mmt of greenhouse gas emissions annually.
“The Mission will have wide ranging benefits- creation of export opportunities for Green Hydrogen and its derivatives; Decarbonisation of industrial, mobility and energy sectors; reduction in dependence on imported fossil fuels and feedstock; development of indigenous manufacturing capabilities; creation of employment opportunities; and development of cutting-edge technologies,” it said.
Under the mission, the Strategic Interventions for Green Hydrogen Transitions Programme (SIGHT) will provide two financial incentive mechanisms that will target the domestic manufacturing of electrolysers and the production of green hydrogen.
It will support pilot projects in emerging end-use sectors and production pathways and identify and develop regions that can produce or use hydrogen in large-scale into green hydrogen hubs.
Of the initial investment, Rs.17,490 crore is allotted for the SIGHT programme, Rs.1,466 crore for pilot projects, Rs.400 crore for R&D, and Rs. 388 crores for other Mission components.