The National Green Hydrogen Mission is a "significant step" in meeting the nation's net-zero goals and will assist in lowering the cost of clean energy source inputs in addition to creating thousands of job opportunities in the renewable energy sector. The National Green Hydrogen Mission, which aspires to turn India into a worldwide industrial hub and a clean source of energy, was authorised by the Union Cabinet on January 4.
By 2030, the Mission also aims to increase the nation's renewable energy capacity by around 125 GW, with a production capacity of at least 5 MMT (Million Metric Tonnes) annually. I anticipate that the country's green hydrogen industry will take off because to the focus on demand generation, incentives, and collaborations. This will also provide Indian businesses a chance to compete
on an equal basis with international energy suppliers. Sumant Sinha, Chairman and CEO of ReNew Power, said that the business community was prepared to support India's shift to renewable energy. In order to assist India in achieving its net-zero goals, Sinha, who is also the president of the business association Assocham, called the mission's beginning "a important milestone." The programme will simplify production, use, and export in addition to creating thousands of job possibilities in the renewable energy sector, according to Ishver Dholakiya, MD of Goldi Solar.
The incentives will help bring down the cost of input materials like electrolysers, which will help local players to become competitive at the global level, he said. Girishkumar Kadam, Senior Vice President & Co-Group Head - Corporate Ratings, ICRA Ltd said the round-the-clock procurement of renewable energy at competitive rates remains extremely critical for an improvement in the utilisation of electrolysers.
The timely implementation of the proposed PLI scheme to incentivize/promote the domestic manufacturing of electrolysers will be critical, he said. Abhay Kumar Singh, ex-CMD of state-owned NHPC, said the cost of per kg hydrogen comes to around USD 3 at present. With the government's ambitious mission it will be less than half in the times to come.
"The business had inked an agreement with the Himachal government to construct a pilot green hydrogen transportation project comprising hydrogen generation," he said. "I was CMD of NHPC at the time. According to Singh, the mission will improve the investment sentiments of a growing number of interested parties.
.jpg "Overcoming the Hurdles of Scaling a Startup")
