India approves an incentive plan of $2.11 billion to produce five million tonnes of green hydrogen to decrease emissions, meet climate targets and reduce dependence on energy imports
The country is aiming for an annual production of five million tonnes of green hydrogen by 2030, cutting about 50 million tonnes of carbon emissions and saving one trillion rupees on fossil fuel imports.
The country is aiming for an annual production of five million tonnes of green hydrogen by 2030, cutting about 50 million tonnes of carbon emissions and saving one trillion rupees on fossil fuel imports, federal Information and Broadcasting Minister Anurag Thakur said on Wednesday. To promote the use of green hydrogen, Thakur said obligations – such as mandatory targets for green hydrogen consumption – would be required of fertiliser units, petroleum refineries and city gas distribution networks.
The government’s incentive programme, the “Strategic Interventions for Green Hydrogen Transition Programme ”, will also need additional government spending millions of dollars on research and other expenses.Green hydrogen is hydrogen that is produced by splitting water into hydrogen and oxygen by using electricity generated from renewable sources of energy. Most of the world’s hydrogen is made using fossil fuels, especially natural gas.
States can establish legal and policy frameworks that encourage investment. However, developing these policies and guaranteeing their enforcement and compliance depend heavily on enhancing government capacity and offering technical support, particularly to governments in emerging markets and developing economies.
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