During the G20 Energy Transitions Ministers Meeting held on July 22, 2023, under India’s G20 Presidency, the Union Minister for New & Renewable Energy and Power highlighted the importance of establishing a sustainable and equitable global hydrogen ecosystem that benefits all nations.
The meeting resulted in the endorsement of High-level Voluntary Principles on Hydrogen, which emphasize the promotion of free and fair trade of hydrogen derived from zero and low emission technologies and their derivatives.
India’s Government is actively collaborating with several countries to develop the green hydrogen sector. To further this commitment, on January 4, 2023, the Union Cabinet approved the National Green Hydrogen Mission with a budget of Rs. 19,744 crores.
This mission incorporates various financial and non-financial measures, including the following:
1. Facilitating demand creation through both domestic utilization and exports.
2. The Strategic Interventions for Green Hydrogen Transition (SIGHT) program, offering incentives for the manufacturing of electrolysers and green hydrogen production.
3. Implementing pilot projects in sectors like steel, mobility, and shipping to demonstrate the viability of green hydrogen.
4. Establishing Green Hydrogen Hubs for the efficient distribution of the fuel.
5. Providing support for infrastructure development.
6. Creating a robust framework of regulations and standards.
7. Investing in Research & Development programs.
8. Implementing a skill development program to foster expertise in the green hydrogen sector.
9. Conducting public awareness and outreach initiatives.
The Strategic Interventions for Green Hydrogen Transition (SIGHT) Program is a significant financial measure, with a budget of ₹ 17,490 crore. This program includes two financial incentive mechanisms aimed at supporting domestic manufacturing of electrolysers and green hydrogen production. The Government has issued guidelines for these incentive schemes.
The National Green Hydrogen Mission’s goal is to achieve a Green Hydrogen production capacity of 5 MMT (Million Metric Tons) per annum by 2030. This ambitious mission is estimated to potentially mitigate nearly 50 MMT per annum of CO2 emissions through the production and utilization of the targeted amount of Green Hydrogen.
The information was provided by the Union Minister for New & Renewable Energy and Power, Shri R. K. Singh.
- PIB
