India has passed the Green Hydrogen Mission and has recently announced number of incentives to accomplish the goal. Government on 4th January declared that incentives amounting Rs 19,744 crore has been granted under the mission, which includes Rs 17,490 crore for Strategic Internventions for Green Hydrogen Transition programme, where Rs 1466 crore has put in for pilot projects and Rs 388 crore for other parts of the mission.
With this mission government will target the domestic electrolyser manufacturing and green hydrogen and GH2 production. CLSA in a statement has said that its time to take measures to generate demand for the cleaner fuel. Companies with exposure to green hydrogen will gear up for GH2 pilots. The government has also announced to wave of the import duties on electrolysers.
Green hydrogen has now became an world debate, where it has seen that it has now seen as a pillar of most net-zero emission scenarios around the world. If there is adequate hydrogen available it would be something of a decarbonisation wonder. This mission will prompt in making carbon free fuel for transportation and heating, power energy insentive industries that can be electrified.
Mukesh Ambani and Gautam Adani, India's two biggest businessmen announced their plans of investing about $ 70 billion each by the end of the decade in developing everything that is required to make it cheap.
Many further incentives have came stating if any hydrogen producer wants to purchase the electricity from a renewable energy, open access will be given to thyem within 15 days of application. And if these suppliers is in other state, inter-state transmission system will be get waived for a span of 25 years. The problem today is this that the green hydrogen is not cmmercial at present, which states its present cost in India around 350-400 per kg.
The companies with green hydrogen exposure are NTPC Ltd., PowerGrid India Ltd., Adani Enterprises Ltd., Reliance Industries Ltd., Larsen & Tourbro Ltd., MTAR Technologies Ltd., Greenko Group Pvt., ACME Solar Holding Pvt., Linde India Ltd., Indian Oil Corp. and GAIL Ltd.
As per the TERI, 2030 green hydrogen will rapidly become competitive with a decline in electrolyser costs and increasing solar plants factors. National green Hydrogen mission is a key project for ensuring energy transition which is also the cornerstone of India's climate action targets for 2030 as well as the 2070 'net zero' goal.
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