India: GREEN HYDROGEN MISSION - Expected to reduce 1 lakh crore worth of fossil fuel imports and nearly 50 MMT per annum of CO2 emissions by 2030 – Union Power & NRE Minister

The Union Cabinet approved the National Green Hydrogen Mission with an outlay of 19,744 crore from FY 2023-24 to FY 2029-30. The overarching objective of the Mission is to make India a global hub for production, usage and export of Green hydrogen and its derivatives.

Original Press Release:

March 16 -- Press Information Bureau, Government of India issued the following news release:

On 4th January 2023, the Union Cabinet approved the National Green Hydrogen Mission with an outlay of 19,744 crore from FY 2023-24 to FY 2029-30. The overarching objective of the Mission is to make India a global hub for production, usage and export of Green Hydrogen and its derivatives.

The following components have been announced as part of the Mission:

i. Facilitating demand creation through exports and domestic utilization;

ii. Strategic Interventions for Green Hydrogen Transition (SIGHT) programme, which includes incentives for manufacturing of electrolysers and production of green hydrogen;

iii. Pilot Projects for steel, mobility, shipping etc.;

iv. Development of Green Hydrogen Hubs;

v. Support for infrastructure development;

vi. Establishing a robust framework of regulations and standards;

vii. Research & Development programme;

viii. Skill development programme; and

ix. Public awareness and outreach programme.

The expected outcomes of the Mission, by 2030, are as follows:

i. India’s Green Hydrogen production capacity is likely to reach 5 MMT per annum, contributing to reduction in dependence on import of fossil fuels. Achievement of Mission targets is expected to reduce a cumulative 1 lakh crore worth of fossil fuel imports by 2030.

ii. Nearly 50 MMT per annum of CO2 emissions are expected to be averted through production and use of the targeted quantum of Green Hydrogen.

This information was given by the Union Minister of Renewable Energy & Power Sh. R.K. Singh in the Lok Sabha Today.

[Category: Energy Equipment & Services, Renewable Electricity, Regulatory and Legal]

Source: Press Information Bureau, Government of India