Union Cabinet on Wednesday approved the ‘National Green Hydrogen Mission’
The Union Cabinet on Wednesday approved the ‘National Green Hub Mission’. This was done with an aim of making India a hub for manufacturing ‘clean sources of energy’.
When Speaking about the initiative, Union minister Anurag Singh Thakur said, “Incentives will be given on electrolyser manufacturing for 5 years and incentive on the production of green hydrogen.”Green hydrogen hubs will be built as well.”
The Centre will invest approximately Rs. 19,744 crores in the project, which will also include an outlay of Rs.400 crore for research and development. The Ministry of New and Renewable Energy (MNRE) will develop scheme guidelines for implementation.
The project aims to increase annual green hydrogen production to 5 million tonnes, as well as add about 125 gigawatts of renewable energy capacity. It is expected to gradually attract over ₹8 lakh crore in investments, over six lakh jobs, and an overall reduction of more than ₹1 lakh crore in fossil fuel imports.
According to an official statement, the project will have a wide range of benefits, including the creation of export opportunities for green hydrogen and its derivatives, the decarbonization of the industrial, mobility, and energy sectors, the reduction of reliance on imported fossil fuels and feedstock, the development of indigenous manufacturing capabilities, the creation of employment opportunities, and the development of cutting-edge technologies.