During the panel discussion on "Green Hydrogen for Decarbonization: Investment and Opportunities" at Mahatma Mandir as part of RE Invest-2024, Ajay Yadav, joint secretary of the ministry, said, "We launched the Green Hydrogen Mission in Jan 2023 with the aim to make India a hub of green hydrogen production, use and export. We have announced a total outlay of Rs 20,000 crore, of which Rs 17,500 crore is for incentives for electrolyzers and green hydrogen production. India will see large-scale electrolyzer manufacturing from mid-2026 and by early 2027, green hydrogen production will begin. Refineries and fertilizer industries use hydrogen in a big way and there is a market to replace grey hydrogen with green hydrogen."
He added that India has set a target of 5 million tonnes of green hydrogen capacity by 2030, of which Gujarat alone has a target of 3.5 million tonnes. He said a tender for 7.5 lakh tonnes per annum (TPA) of ‘green ammonia' is currently live, with additional tenders for 4.5 lakh TPA capacity also floated.
A CEO roundtable discussion on "Accelerating green hydrogen production through green jobs in Gujarat' chaired by state additional chief secretary SJ Haider was also held where CEOs expressed their views on technological, infrastructure and policy support required to position as global hub for green hydrogen. Haider in his closing remarks said state is committed to making state a leader in green hydrogen production while driving job creation in the industry.
Meanwhile, in the session on green hydrogen for decarbonisation, Prateek Jhawar, MD, investment banking, Avendus, said, "According to the World Energy Outlook 2023, only 20% of energy demand is met by electricity, so renewable electricity alone cannot decarbonize the economy. Green hydrogen is set to replace other fuels in many sectors. Reduced electrolyzer costs will drive increased competitiveness of green hydrogen by 2030."
Saurabh Kundu, chief of corporate sustainability, Tata Steel Ltd, said, "The steel sector has high carbon emissions and green hydrogen prices should be competitive at around USD 2 per kg for adoption because its storage cost is also around USD 1 per kg. The steel industry is switching fuel to biomass as of now."
Umish Srivastva, executive director (alternative energy), Indian Oil Corporation Ltd, said, "India's energy demand is increasing rapidly, and green hydrogen will come as feedstock initially for various industries."
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
