News

India H2 Alliance Seeks $360-Mn Public Finance to Set Up Green Hydrogen Projects in India

By June 30, 2022 2   min read  (315 words)

June 30, 2022 |

Fuel Cells Works, India H2 Alliance Seeks $360-Mn Public Finance to Set Up Green Hydrogen Projects in India

It has proposed 25 national green hydrogen projects and five hydrogen hubs by 2025.

India Hydrogen Alliance (IH2A), a Delhi-based industry body, has submitted a plan to NITI Aayog and the renewable energy ministry for creation of 25 national green hydrogen projects and five national hydrogen hubs by 2025 with public finance support of $360 million.

This also includes setting up of a National Hydrogen Development Corporation and public-private hydrogen taskforce, said the industry-led coalition of global and Indian companies such as Reliance Industries, JSW, Chart Industries, and others.

The 25/25 National Green Hydrogen Hub Development plan focuses on creating scalable green hydrogen projects and hubs that can grow to gigawatt-scale projects in three years, it said in an official press release.

“The next few years will be critical for rapidly developing expertise and developing an end-to-end green hydrogen ecosystem,” said Sanjay Mashruwala, president, Reliance.

According to Prabodha Acharya, chief sustainability officer, JSW Group, industrial majors must collaborate and co-build the green hydrogen economy through national hubs, as has been demonstrated in the plan.

“We will lead by example in the steel and cement sector, by helping build these national hubs,” he added.

The plan recommended that India should build at least 25 scalable green hydrogen projects, aggregating to 150 MW installed electrolyser capacity by 2025, designated first-generation national green hydrogen projects.

“Public finance support of $360 million over next three years from the government for capital expenditure on electrolysers, balance-of-plant equipment, and a green hydrogen price support of $2 per kg of hydrogen in first-generation green hydrogen projects should be done,” said the industry body.

It recommended five national green hydrogen hubs in Gujarat, Karnataka, Maharashtra, Kerala and Andhra Pradesh, and clustering the 25 green hydrogen projects where multi-sectoral demand for green hydrogen can be produced and used without building expensive new infrastructure in the next three years.

SOURCE: Energyworld.com

Read the most up to date Fuel Cell and Hydrogen Industry news at FuelCellsWorks

FuelCellsWorks

Author FuelCellsWorks

More posts by FuelCellsWorks
error: Alert: Content is protected !!