India is committed to become a leader in green hydrogen production and utilisation. With focus on sustainability and reducing carbon emissions, the country aims to leverage its abundant renewable energy resources to produce hydrogen through electrolysis, powered by solar and wind energy. The National Hydrogen Mission (NGHM) was launched in 2023 which supports the development of supply chains that can efficiently transport and distribute hydrogen. This includes the use of pipelines, tankers, intermediate storage facilities, and last leg distribution networks for export as well as domestic consumption. Under the NGHM, USD 2.1 billion is allocated to the Strategic Interventions for Green Hydrogen Transition (SIGHT) scheme, which provides incentives for the production of green hydrogen. The mission aims to produce 5 MMTPA of green hydrogen by 2030.
According to MarketsandMarkets Research, a Pune-based market research company, the hydrogen generation market in Inida is expected to reach USD 21.9 billion by 2030, at a compound annual growth rate (CAGR) of 11.1 pc between 2023 and 2030.
The global hydrogen generation market is projected to reach USD 295.8 billion by 2030, at a CAGR of 9.3 per cent between 2023 and 2030.
In January this year, National Thermal Power Corporation Limited (NTPC) commissioned India's first green hydrogen blending project. This blending has been started in the PNG network of NTPC Kawas township, Surat. The project is a joint effort of NTPC and Gujarat Gas Limited (GGL).
This story is from the November 2024 edition of Entrepreneur magazine.
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This story is from the November 2024 edition of Entrepreneur magazine.
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