The Union government aims to position India as a global hub for the production, utilization, and export of green hydrogen, said Prime Minister Narendra Modi on September 11.
While inaugurating the second edition of International Conference on Green Hydrogen (ICGH), Modi said the National Green Hydrogen Mission (NGHM) is a critical step towards realizing the ambition. The mission would drive innovation, build infrastructure, stimulate industry growth, and attract investment in the green hydrogen sector, he added.
“While we continue to strengthen existing solutions, we are also focused on embracing new and innovative approaches. Green hydrogen is one such breakthrough, with the potential to decarbonize hard-to-electrify sectors like refineries, fertilizers, steel, and heavy-duty transportation,” said Modi.
In January 2023, the Union Cabinet approved the National Green Hydrogen Mission (NGHM) with a total initial outlay of Rs 19,744 crore. Of the total amount, Rs 17,490 crore has been earmarked for incentives on the production of green hydrogen and manufacturing of electrolysers, while Rs 1,466 crore would be for pilot projects, Rs 400 crore for research and development (R&D), and Rs 388 crore towards other mission components.
Addressing the event, Minister of New and Renewable Energy Pralhad Joshi said NGHM was launched with the goal of positioning India as a key player, ensuring both energy self-reliance and economic growth.
“This mission not only has the potential to attract Rs 8 lakh crore in investments and generate 6 lakh jobs but will also significantly reduce reliance on imported natural gas and ammonia, leading to savings of Rs 1 lakh crore, said Joshi.
As India advances towards achieving net-zero emissions goals, the country aims to achieve 500 GW of installed non-fossil fuel power generation capacity by 2030. To meet the set targets, the government is promoting the use of green energy in the country including green hydrogen, solar and wind.
India's commitment to achieving net-zero emissions by 2070 involves a multifaceted approach, including a significant focus on green hydrogen, said minister of petroleum and natural gas Hardeep Singh Puri at the event.
“Our goal of producing 5 million metric tons of green hydrogen by 2030 is a critical step in decarbonizing our economy. This will require an investment of $100 billion and the development of 125 gigawatts of new renewable energy capacity,” said Puri.
The green hydrogen mission would not only reduce 15 million metric tons of CO2 emissions annually but will also generate substantial savings in imports, the oil minister added.
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