The National Green Hydrogen Mission, with an initial budget of Rs 19744 crores, has been authorized by the Union Cabinet to assist in the development of demand, production, usage, and export of green hydrogen. The Strategic Interventions for Green Hydrogen Transition Programme (SIGHT) program would receive the lion’s share of the financing, which totals Rs 17490 Crores.
The remaining funds were allocated to various projects, including Rs 1466 crore for pilot projects, Rs 400 crore for research and development, and Rs 388 crore for additional mission components. The government announced in a statement that the SIGHT initiative will offer different financial incentives for the home manufacture of electrolyzers and green hydrogen.
The goal aims to advance the creation of a 50 lakh tonnes per year green hydrogen production capacity in the nation by 2030, together with an additional 125 GW of renewable energy capacity. 60–100 GW of electrolyzer capacity will be created to do this. By 2030, the mission hopes to have invested more than Rs 8 lakh crores and employed more than 600,000. By 2030, it is anticipated to reduce annual greenhouse gas emissions by almost 5 crore tonnes and cumulative fossil fuel imports by over Rs 1 lakh crore.
The Accomplishment of The Mission
The Ministry of New and Renewable Energy (MNRE) will be in charge of carrying out the mission as a whole and developing the rules for the various components. “India seeks to establish itself as the world’s primary producer and exporter of green hydrogen. This would increase the nation’s self-sufficiency in the power sector, align with Aatmanirbhar Bharat’s goal, and serve as an example for the worldwide transition to clean energy, according to Union Minister Anurag Thakur, who provided a briefing on the Cabinet’s choices. The minister continued by saying that the pilot projects would be used to determine which sectors, including long-distance transportation, steel, shipping, and refining, could benefit from using green hydrogen.
Green hydrogen hubs would be created in areas that could sustain large-scale hydrogen generation and/or consumption. To save transportation costs and gain from economies of scale, the mission has proposed bringing green hydrogen producers and consumers under one roof. A public-private partnership framework would also be established to promote research and development, supported by a special fund comprising contributions from the public and private sectors as well as venture capital firms. The minister said that the mission will boost domestic manufacturing capacity, decarbonize industries, increase the export potential for green hydrogen and its derivatives, and lessen reliance on imported fossil fuels and feedstock.
source: Mercom
