India Approves Rs 19744 Cr Scheme Towards Green Hydrogen Generation
It will also reduce the imports of petroleum products by over Rs 100000 Cr
NEW DELHI: The Narendra Modi cabinet has approved a huge budget of Rs 19744 Cr to incentivise the manufacturing of green hydrogen in the country. The aim is to boost exports as well as to cut down the emissions from traditional fuels.
India aims the production of 5 million metric tonnes of green hydrogen annually in the next five years. Information and Broadcasting Minister Anurag Thakur announced the Cabinet's approval of the National Green Hydrogen Mission towards the development of the Green Hydrogen Chain.
Hydrocarbons in different forms are the main fuel as of now but the aim is to shift to carbon-free hydrogen as a fuel source.
According to reports, the initial outlay for the mission will be ₹ 19,744 Cr. This includes an outlay of Rs 17,490 Cr for the SIGHT programme, Rs 1,466 Cr for pilot projects, Rs 400 Cr for Research & Development, and Rs 388 Cr towards other mission components. And the Ministry of New and Renewable Energy will formulate the guidelines for the implementation of this scheme.
Apart from the creation of 5 million metric tonnes of green hydrogen annually with associated renewable energy in the range of about 125 GW, this mission aims at the creation of 6 lakh new jobs by the target timeline of 2030. It will also reduce the imports of petroleum products by over Rs 100000 Cr and reduce about 50 million metric tonnes of greenhouse gas emissions.
The Mission also includes the setting up of large-scale production units to be developed and identified as Green Hydrogen Hubs. A policy will be developed towards the establishment of facilities, standards as well as regulations for a proper green hydrogen ecosystem in the country.
A public-private partnership framework for R&D (Strategic Hydrogen Innovation Partnership - SHIP) will also be created under the Mission. R&D projects will be goal-oriented, time-bound, and suitably scaled up to develop globally competitive technologies. A coordinated skill development programme will also be undertaken parallelly.
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