https://sputniknews.in/20230104/india-approves-24bln-green-hydrogen-mission-to-boost-production-exports-384368.html
India Approves $2.4Bln Green Hydrogen Mission to Boost Production, Exports
India Approves $2.4Bln Green Hydrogen Mission to Boost Production, Exports
Sputnik India
The mission is expected to add 125 GW of renewable energy capacity, reducing the country's reliance on crude oil imports and saving over $12 billion.
2023-01-04T18:05+0530
2023-01-04T18:05+0530
2023-01-04T18:05+0530
political affairs
india
climate change
narendra modi
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The cabinet of Prime Minister Narendra Modi gave its approval to the National Green Hydrogen Mission on Wednesday, intending to turn India into a global renewable-energy player.According to the plan, the National Green Hydrogen Mission aims to produce 5Mln tons of green hydrogen by 2030. To achieve this, it will set up 60 to 100 GW of electrolyzer capacity.The government has allocated $48Mln for research and development and $46.8Mln for other expenses. In total, the program is expected to add 125 GW of renewable energy capacity, reducing the country's reliance on fossil fuel imports and saving more than $12Bln a year.Through the project, the government aims to create 600,000 new jobs and attract around $96Bln in total investments by 2030, as well as reducing CO2 emissions by 50 MMT per year by 2030.India also aims to export approximately 10 percent of the total demand for green hydrogen by 2030. These goals are expected to help boost the country's economy and strengthen its position as a leader in the clean energy sector.
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green hydrogen mission 2022, renewable energy production in india in 2023, india approves green hydrogen mission, total demand of green hydrogen in world, how much incentives india announces for green hydrogen production
green hydrogen mission 2022, renewable energy production in india in 2023, india approves green hydrogen mission, total demand of green hydrogen in world, how much incentives india announces for green hydrogen production
India Approves $2.4Bln Green Hydrogen Mission to Boost Production, Exports
The project is expected to give a major boost to India's renewable energy capacity, reducing the country's reliance on crude oil imports and saving more than $12Bln.
The cabinet of Prime Minister Narendra Modi gave its approval to the National Green Hydrogen Mission on Wednesday, intending to turn India into a global renewable-energy player.
"The cabinet approves the National Green Hydrogen Mission. The mission aims to make India a global hub for production, utilization and export of Green Hydrogen," India's Information and Broadcasting Minister Anurag Singh Thakur said.
According to the plan, the National Green Hydrogen Mission aims to produce 5Mln tons of green hydrogen by 2030. To achieve this, it will set up 60 to 100 GW of electrolyzer capacity.
"To make green hydrogen more widely available and affordably priced, the government plans to provide incentives worth $2.1 billion for the manufacturing of electrolyzers and the production of green hydrogen," the minister added.
The government has allocated $48Mln for research and development and $46.8Mln for other expenses. In total, the program is expected to add 125 GW of renewable energy capacity,
reducing the country's reliance on fossil fuel imports and saving more than $12Bln a year.
Through the project, the government aims to create 600,000 new jobs and attract around $96Bln in total investments by 2030, as well as reducing CO2 emissions by 50 MMT per year by 2030.
India also aims to export approximately 10 percent of the total demand for green hydrogen by 2030. These goals are expected to help boost the country's economy and strengthen its position as a leader in the clean energy sector.
