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Last Updated on 25th June 2024
The Union budget 2024–25 has allocated USD 72 million (INR 600 crore) for the National Green Hydrogen Mission, marking a significant increase from the previous year's allocation of USD 35 million (INR 297 crore).
The national green hydrogen mission was launched with an initial investment of USD 2.2 billion (INR 19,744 crore), comprising the following components:
The primary objective of the program is to position India as a global hub for the production of green hydrogen, a pivotal step towards sustainable energy solutions.
The green hydrogen mission aims to develop a green hydrogen production capacity of at least five million metric tonnes per year. This ambitious goal reflects India's commitment to renewable energy and combating climate change. Additionally, the mission endeavors to create 6 lakh job opportunities by 2030, spanning various sectors related to green hydrogen production and utilization.
To kickstart its implementation, the mission will identify and establish at least two green hydrogen hubs in the initial phase. These hubs will serve as focal points for research, innovation, and large-scale deployment of green hydrogen technologies, contributing significantly to India's energy transition and economic development.
The Government of India launched the SIGHT scheme, which stands for Strategic Interventions for Green Hydrogen Transition, as a significant initiative to promote the production and use of green hydrogen in the nation. It is part of the National Green Hydrogen Mission, which aims to make India a global leader in green hydrogen production and export by 2030.
The scheme provides financial assistance to manufacturers of electrolyzers, which are the key equipment used to produce green hydrogen from water using renewable energy. The aim is to encourage domestic production of electrolyzers and reduce India's dependence on imports.
Additionally, the scheme will provide financial assistance to producers of green hydrogen. The aim is to make green hydrogen more affordable and encourage its use in various sectors, such as transportation, refining, and steelmaking.
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With its user-friendly interface, this platform empowers you to gain early-stage awareness of projects and swiftly identify the right business opportunities.
Each project will have all the essential details, such as scope, capacity, CapEx, status, project description, companies involved, funding information, location, periodic updates, important event dates like construction start dates, commissioning dates, and key contact information of project owners and stakeholders.
The database is a vital resource for a wide range of entities, including energy companies, EPC companies, facility operation and maintenance (O&M) companies, consulting and advisory firms, investors, energy investment firms, project finance agencies, research and development organizations, regulatory bodies, and law firms.
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News_Release 20th Nov 2023
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