India is planning a rS 18,000 CRORE incentive programme for the green hydrogen industry in a bid to cut emissions and become a major export player in the field.
The ₹180-billion ($2.2 billion) incentive aims to reduce the production cost of green hydrogen by a fifth over the next five years. It would do this in part by increasing the scale of the industry.
The current cost in India is ₹300 rupees to ₹400 per kg, said the manager.
The United States and the European Union have already approved incentives worth billions of dollars for green hydrogen projects.
The Indian aid could be announced in the Feb. 1 budget for the fiscal year beginning April 1, said a government official. All sources declined to be named discussing a budget proposal.
Indian companies such as Reliance Industries, Indian Oil, NTPC, Adani Enterprises, JSW Energy and Acme Solar have big plans on green hydrogen.
The Indian government expects industry to invest 8 trillion rupees in green hydrogen and its derivative green ammonia by 2030, said the industry manager and another government official. Green ammonia is made by combining nitrogen with hydrogen using renewable energy sources; it can be used by the fertiliser industry or as a fuel or convenient means of transporting hydrogen.
Discussion about this post