According to Ministry of New and Renewable Energy Secretary Bhupinder Singh Bhalla, the government would announce regulations and publish a call for bids for incentives under the GH2 mission norms (Green Hydrogen Mission) within the first part of the following fiscal year.
A draught of the incentive schemes has been produced, according to him, and the consultation process should start soon.
“We want to speed up them (the guidelines and tender) but bring them out with clarity so that companies can start planning how to make electrolysers or produce green hydrogen,” he said.
The National Green Hydrogen Mission (GH2 mission norms) received approval from the Union cabinet in January with a budget of Rs 19,744 crore. The mission intends to generate around 125 GW of additional renewable energy capacity while increasing India’s capacity to produce green hydrogen to at least 5 million tonnes annually.
Indicative funding of EUR 1 billion was announced last month by the European Investment Bank to promote large-scale green hydrogen centers and projects across India.
The offshore wind industry has been the subject of a concept note from the ministry. While debates about viability gap funding (VGF) are ongoing, new procedures are also being discovered, according to Bhalla.
“On the suggested VGF for the initial installations, we have floated a concept note. After that passes, we will get formal clearances and start putting things into practice. He added that the procedure for non-VGF projects was also being finished.
In India’s ambition to reach 500 GW of non-fossil fuel capacity by 2030, offshore wind projects are crucial.
Bhalla stated that although the government has not yet made a formal decision about the loosening of the approved list of models and manufacturers, the issue is still being considered.
The local manufacturers may not be able to meet demand until sufficient manufacturing capacities are available given the significant pipeline of solar capacity additions.
The Bureau of Indian Standards has so far certified domestic solar module producers, which are on the list.
The government will adjust its renewable energy goals as domestic production of solar equipment rises.
Nonetheless, the capacity addition for renewable energy will increase gradually. There isn’t any other way if we want to hit the 500 GW goal, according to Bhalla.
The government is assisting the renewable energy projects that are close to commissioning to meet the demand for electricity throughout the forthcoming summer, which is predicted to be higher than it was last year.
Source: The Economic Times
