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LATEST NEWS UPDATES | India Approves ₹197 Billion National Green Hydrogen Mission -Gautamee Hazarika

India Approves ₹197 Billion National Green Hydrogen Mission -Gautamee Hazarika

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published Published on Jan 4, 2023   modified Modified on Jan 5, 2023

-Mercom India

The Union Cabinet has approved the National Green Hydrogen Mission with an initial outlay of Rs.19,744 crore ($2.38 billion). The policy decision is meant to facilitate demand, production, utilization and export of green hydrogen. The largest portion of the outlay, Rs.17,490 crore, has been earmarked for strategic interventions in the transition to green hydrogen. Also called SIGHT, this sub-component envisages financial incentives for the domestic manufacture of electrolyzers and the production of green hydrogen. 

The mission will aim to create a production capacity of 5 million tons of green hydrogen by 2030, which will add an additional capacity of 125 gigawatts of renewable energy. The government has forecast that an investment of Rs. 8 lakh crore will be made over the course of this decade, creating 6 lakh jobs. Additionally, a corresponding reduction in the fossil fuel import bill of Rs. 1 lakh crore and the abatement of 50 million tons of annual greenhouse gas emissions in this period is envisaged. 

Anurag Thakur, the Union minister of Information and Broadcasting, said that shipping, refining, steel and long range mobility cold be sectors where green hydrogen could be used. 

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Gautamee Hazarika, Mercom India, 4 January, 2022, https://mercomindia.com/cabinet-approves-%e2%82%b9197-billion-hydrogen-mission/


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