The Union Cabinet on January 4 approved National Green Hydrogen Mission with an initial outlay of Rs.19,744 crore. The mission also includes 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.
Salient features of National Green Hydrogen Mission
- Under the Mission, 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, cumulative reduction in fossil fuel imports over Rs. One lakh crore.
- Nearly 50 MMT per annum of CO2 emissions are expected to be averted by 2030.
- 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.
- Under the Strategic Interventions for Green Hydrogen Transition Programme (SIGHT), two distinct financial incentive mechanisms – targeting domestic manufacturing of electrolysers and production of Green Hydrogen – will be provided under the Mission.
