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New Delhi: The Indian government has finally approved the National Green Hydrogen Mission, which aims to make India a global hub for the production of green hydrogen.
Prime Minister Narendra Modi approved the National Green Hydrogen Mission, during the union cabinet meeting.
The Mission's initial budget will be Rs.19,744 crore, which includes 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 for other Mission components. Ministry of New and Renewable Energy (MNRE) will develop scheme guidelines for the implementation of the various components.
The Mission will have a wide range of benefits, including the creation of export opportunities for Green Hydrogen and its derivatives, the decarbonisation of the industrial, mobility, and energy sectors, the reduction of reliance on imported fossil fuels and feedstock, the development of indigenous manufacturing capabilities, the creation of employment opportunities, and the development of cutting-edge technologies. India's Green Hydrogen production capacity is expected to reach at least 5 MMT per year, with a 125 GW increase in renewable energy capacity.
By 2030, the targets are expected to attract over Rs. 8 lakh crore in investment and create over 6 lakh jobs. By 2030, nearly 50 MMT of CO2 emissions are expected to be avoided.
The Mission will make it easier to create demand for, produce, use, and export green hydrogen. The Mission will provide two distinct financial incentive mechanisms aimed at domestic manufacturing of electrolysers and production of Green Hydrogen under the Strategic Interventions for Green Hydrogen Transition Programme (SIGHT).
The Mission will also fund pilot projects in emerging end-use sectors and production pathways. Green Hydrogen Hubs will be identified and developed in regions capable of supporting large-scale hydrogen production and/or utilisation.
To support the mission's establishment, a strong Standards and Regulations framework will be developed. Furthermore, the Mission will facilitate a public-private partnership framework for R&D (Strategic Hydrogen Innovation Partnership - SHIP); R&D projects will be goal-oriented, time-bound, and appropriately scaled up to develop globally competitive technologies. The Mission will also implement a coordinated skill development programme.
All concerned Ministries, Departments, Agencies, and Institutions of the Central and State Governments will take focused and coordinated actions to ensure the Mission's success. The MNRE will be in charge of the Mission's overall coordination and implementation.
The Mission will result in the following likely outcomes by 2030:
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