India’s government is investing heavily (nearly $6 billion) to boost domestic production of electrolysers, which are key for generating green hydrogen. This is part of a larger mission aiming to make India a leader in green hydrogen by 2030.
- The total budget for the National Green Hydrogen Mission (NGHM) is ₹197.44 billion by 2030.
- The mission expects to create over 600,000 jobs and attract over ₹8 trillion in investments.
A subsidy program will be offered to manufacturers to bring down electrolyser costs.
- This program prioritizes improving the quality and competitiveness of domestically manufacture electrolysers.
- The Solar Energy Corporation of India (SECI) will manage the bidding process for these subsidies.
- The amount of subsidy a manufacturer receives will depend on factors like efficiency and locally-sourced parts.
The program encourages the development of new electrolyser technologies alongside established ones.
- There are different quotas for established versus new electrolyser technologies.
- Manufacturers must meet certain requirements for experience, capacity, and local content to participate.
In short, this ambitious Indian plan expects to attract over ₹8 trillion in investments and create more than 600,000 jobs by 2030.
Reference- Press Information Bureau, MNRE website, SECI website, Economic Times