Centre approves Rs 19,744 crore National Green Hydrogen Mission; check details
Information and Broadcasting Minister Anurag Thakur said the Cabinet approved the National Green Hydrogen Mission which is expected to attract Rs 8 lakh crore of investment in the green hydrogen chain.
FollowPrime Minister Narendra Modi-led Cabinet on Wednesday (January 4) approved a Rs 19,744 crore incentive plan to promote the manufacturing of green hydrogen in the country in a bid to cut emissions.
Information and Broadcasting Minister Anurag Thakur said the Cabinet approved the National Green Hydrogen Mission which is expected to attract Rs 8 lakh crore of investment in the green hydrogen chain.
India aims to produce 5 million tonnes of green hydrogen per annum in the next five years and the incentives would help bring down the cost.
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Briefing the reporters about the Cabinet's decision, Thakur said, "The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the National Green Hydrogen Mission."
Carbon-free hydrogen, which can be used as fuel in automobiles and as an energy source in industries such as oil refineries and steel plants, is produced by splitting water. When electricity generated from renewable sources such as the sun is used to split water through electrolysis, green hydrogen is produced. Oxygen is a by-product of such a process.
The initial outlay for the mission will be Rs 19,744 crore, including an outlay of Rs 17,490 crore for the SIGHT programme, Rs 1,466 crore for pilot projects, Rs 400 crore for R&D, and Rs 388 crore towards other mission components. The Ministry of New and Renewable Energy (MNRE) will formulate the scheme guidelines for implementation.
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The mission seeks to promote development of green hydrogen production capacity of at least 5 MMT (Million Metric Tonnes) per annum with an associated renewable energy capacity addition of about 125 GW in the country by 2030. It envisages an investment of over Rs 8 lakh crore and creation of over 6 lakh jobs by 2030.
It will also result in cumulative reduction in fossil fuel imports of over Rs 1 lakh crore and abatement of nearly 50 MMT of annual greenhouse gas emissions by 2030.Â
Several nations have already come up with green hydrogen subsidy and support programs. Recently, the US announced a big support plan for clean hydrogen through the Inflation Reduction Act. Germany, UK and Japan are also providing support to clean hydrogen through state support programs.
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Gautam Mohanka, Managing Director, Gautam Solar, said given that India currently imports more than 80 per cent of its oil requirement, green hydrogen along with solar and wind could be the answer to the future, with this initial outlay being projected to curtail fossil fuel imports of over Rs 1 trillion by 2050.
"The production of green hydrogen can rely on electricity generated by solar plants, and in a way, this is a boost to the renewable sector," he added.
(With inputs from PTI)
