GoI Approves National Green Hydrogen Mission

The Government of India has approved National Green Hydrogen Mission. The initial outlay for the Mission will be Rs.19,744 crore, including an outlay of Rs.17,490 crore for the SIGHT programme, Rs.1,466 crore for pilot projects, Rs.400 crore for R&D, and Rs. 388 crore towards other Mission components.

The Mission will have wide ranging benefits- creation of export opportunities for Green Hydrogen and its derivatives; Decarbonisation of industrial, mobility and energy sectors; reduction in dependence on imported fossil fuels and feedstock; development of indigenous manufacturing capabilities; creation of employment opportunities; and development of cutting-edge technologies. India's Green Hydrogen production capacity is likely to reach at least 5 MMT per annum, with an associated renewable energy capacity addition of about 125 GW. The targets by 2030 are likely to bring in over Rs. 8 lakh crore investments and create over 6 lakh jobs. Nearly 50 MMT per annum of CO2 emissions are expected to be averted by 2030.

The Mission will result in Development of green hydrogen production capacity of at least 5 MMT (Million Metric Tonne) per annum with an associated renewable energy capacity addition of about 125 GW in the country. It will account for over Rs. Eight lakh crore in total investments. It is expected to create over six lakh jobs. It will lead to cumulative reduction in fossil fuel imports over Rs. One lakh crore.

Powered by Capital Market - Live News