The first quarter of 2024 witnessed significant activity in the Indian Green Hydrogen market. The Solar Energy Corporation of India (SECI) issued a tender under the Strategic Interventions for Green Hydrogen Transition (SIGHT) program (Tranche-II) to develop a domestic electrolyser manufacturing capacity of 1500 MW. Additionally, SECI successfully concluded two auctions under SIGHT:
- The first auction awarded contracts to electrolyser manufacturers (EMs) to establish production facilities with a combined capacity of 1500 MW (Tranche-I, Component I).
- Another auction selected green hydrogen producers with a total annual capacity of 412,000 metric tons (MT) to set up production facilities in India (Mode-1-Tranche-I, Component II).
Major Investments Announced
Leading companies are making substantial investments in GH projects. ReNew has proposed a project in Karnataka with a production capacity of 0.22 MMTPA, entailing an investment of INR 26,400 crore. Similarly, Acme Cleantech is setting up a GH project in India with a capacity of 1.10 MMTPA, backed by an investment of INR 27,000 crore.
Green Hydrogen Projects Take Off
The first quarter also saw progress on the ground. Larsen & Toubro (L&T) commissioned its first domestically built 1 MW electrolyser at its hydrogen plant in Hazira, Gujarat. Additionally, Jindal Stainless Steel (JSL) inaugurated its maiden GH plant in Hisar, Haryana.
Policy Framework Taking Shape
The Indian government is actively shaping the policy landscape for GH. During Q1 2024, eight central-level and two state-level policy instruments were issued, including notifications, regulations, and orders.