In a significant move to strengthen India’s push towards green energy, the Ministry of New and Renewable Energy (MNRE) has announced an over Rs 17,000 crore ($2.26 billion) incentive scheme to bolster the manufacturing of electrolyzers and green hydrogen production.
MNRE Secretary Bhupinder Singh Bhalla declared the finalized drafts for these incentive schemes will soon be implemented, setting in motion a significant step toward sustainable development.
These initiatives are part of India’s concerted effort to accelerate the transition to green energy sources. Bhalla emphasized that the move would not only enhance the demand for clean energy but also help in creating a sustainable energy ecosystem.
Electrolyzers play a vital role in the production of green hydrogen, a clean fuel source with immense potential in various sectors like transportation, heating, and electricity. Incentivizing electrolyzer manufacturing will not only pave the way for a robust green hydrogen production framework but also promote research and development in this field. The potential impact of such a program is multifold – it would provide a significant boost to the domestic manufacturing industry, drive employment, and place India as a key player in the global green hydrogen market.
The incentive schemes are an integral part of the ambitious Hydrogen Mission, which envisages offering incentives exceeding Rs 17,000 crore until 2030, rolled out in tranches. “This phased approach ensures that we learn from the first tranche and evolve the second one accordingly,” Bhalla explained.
The MNRE has also announced the first-ever International Conference on Green Hydrogen, to be held from July 5-7, 2023, in New Delhi. The three-day conference aims to convene stakeholders and discuss emerging technologies across the entire green hydrogen value chain.
Ajay Yadav, Joint Secretary at MNRE, noted that around 1,500 delegates from India and around the globe, including Japan, the US, and the EU, are expected to attend the event. This conference will not only promote dialogue around green hydrogen but will also serve as a platform for global collaboration in this emerging field.
As India steps up efforts to achieve its climate goals, the rollout of these incentive schemes and the upcoming conference symbolizes the government’s resolve to encourage sustainable energy solutions. These strategic moves will not only have a profound impact on India’s energy landscape but will also contribute significantly to the global fight against climate change.
