As our headlong rush into embracing new technologies should have taught us by now, it is unwise to place your policy bets before all alternative technologies have had a chance to develop
The three companies announced the setting up of a joint venture that will focus on developing green hydrogen projects on April 4.
The Ministry of Power notified the first part of the National Hydrogen Mission policy on green hydrogen and green ammonia on February 17, and had said that a second part will follow soon.
Adani Enterprises’ newly formed arm Adani New Industries Limited will be housing the group’s green hydrogen initiatives.
The announcement of the green hydrogen policy is in line with the country's efforts to transition itself away from fossil fuels as it looks to meet the commitment of being a net-zero carbon-emitting economy by 2070.
The ministry has waived power transmission charges for 25 years for these units, allowed them to buy renewable power from exchanges or their own unit and bank unconsumed renewable power for up to 30 days with power distribution companies.
The first phase of the policy is unlikely to include viability gap funding and mandates for producers under the green hydrogen policy for green hydrogen and ammonia usage.
On August 15, Prime Minister Modi had announced the launch of the National Hydrogen Mission (NHM). The PM had said his government's aim was to make India a global hub for the production and export of green hydrogen.
India’s hydrogen energy ecosystem can be worth $2-3 trillion in the next 20-25 years, and the country has an excellent opportunity to become a significant exporter of green hydrogen, Upadyay says.
Apart from transportation, hydrogen can be a “decarbonising agent" for industries like chemicals, iron, steel, fertiliser and refining, transport, heat and power.
The government will focus on R&D and demand creation and find ways to use it in industry, create an eco-system including policies and bring industry on board along with international partnerships