The development of green hydrogen centers in Trivandrum and Kochi will cost Rs 200 crore, according to a plan unveiled by the Keralan government. K N Balagopal, minister of finance, stated in his budget Speech, “A programme of Rs 200 crore is announced for viability gap funding, grant, equity support to set up green hydrogen centers in Kochi and Thiruvananthapuram over the next two years.” He said that an additional Rs 20 crore had been set aside for this. By 2040 and 2050, respectively, Kerala hopes to be entirely dependent on renewable energy sources. According to the state’s FM, the environment is conducive to the creation of green hydrogen.
He claimed that because hydrogen fuel can be used in long-distance vehicles and ships to significantly cut carbon emissions, green hydrogen, which is created using renewable energy, may play a significant role in eco-friendly development. The minister added that a brand-new Energy Park will be built to take advantage of the potential for generating electricity from renewable sources. He further stated that Rs 10 crore has been set aside for an industrial park that will produce EV batteries and related equipment.