- The Indian government has given assent to the National Green Hydrogen Mission with a budget of USD 2.39 bn.
The Indian government has given assent to the National Green Hydrogen Mission with a budget of INR 197.44 billion (USD 2.39 bn). The cabinet approved an outlay of INR 174.9 billion for the Strategic Interventions for Green Hydrogen Transition (SIGHT) programme, INR 14.66 billion for pilot projects, INR 4 billion for research and development (R&D) activities, and INR 3.88 billion towards other Mission components.
The SIGHT programme, introduces distinct financial incentive mechanisms, one targeting the domestic production of electrolysers and the other for the production of green hydrogen. The Mission is now working towards developing enabling policy framework towards supporting the creation of a green hydrogen ecosystem and the establishment of a robust Standards and Regulations framework. A public-private partnership framework for R&D will also be facilitated.
A critical goal of the Mission is the support for the development of at least 5 million tonnes of annual green hydrogen production capacity with some 123 GW of renewable energy additions
The government estimates that total investments as part of the strategy will surpass INR 8 trillion by 2030, with more than 600,000 newly-created jobs.
The Ministry of New and Renewable Energy (MNRE) will be responsible for the overall coordination and implementation of the Mission, the announcement says.