India – Cabinet nod for national green hydrogen mission: how it will fuel change in renewable sector.
The Centre has allocated Rs 17,490 crore of the mission’s budget to incentives for the production of green hydrogen and the manufacture of electrolyzers, dubbed the Strategic Interventions for Green Hydrogen Transition Programme (SIGHT).
The much-anticipated National Green Hydrogen Mission has been approved by the Union Cabinet, with an initial outlay of Rs 19,744 crore, according to Union Minister of Information and Broadcasting Anurag Thakur.
The Centre has allocated Rs 17,490 crore of the mission’s budget to incentives for the production of green hydrogen and the manufacture of electrolyzers, dubbed the Strategic Interventions for Green Hydrogen Transition Programme (SIGHT). Separately, Rs 1,466 crore will be allocated to pilot projects, Rs 400 crore to R&D and Rs 388 crore to other mission components.
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The government intends to create 50 lakh tonne (MMT) of green hydrogen production capacity per year through the Mission until 2029-2030. Additionally, it anticipates that the mission will attract over Rs 8 lakh crore in investment and will create over six lakh jobs.
This move is also expected to save approximately Rs 1 lakh crore in fossil fuel imports, while also reducing annual greenhouse gas emissions by nearly 50 MMT.
Cabinet Nod for National Green Hydrogen Mission: How It Will Fuel Change in Renewable Sector, January 4, 2022
