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Thursday, January 5, 2023

Government approves a $19,000,000,000 green hydrogen effort with an eye toward climate goals

Eye on climate goals, govt OKs 19k crore green hydrogen mission

 

Delhi, India: The government of India approved the National Green Hydrogen Mission on Wednesday, with an initial funding commitment of Rs 19,744 crore. This approval could represent a significant step toward achieving India's updated climate action goals. It will assist India in reducing its carbon footprint and saving a significant amount of foreign currency on fossil fuel imports in the future.


As part of India's long-term goal of carbon neutrality by 2070, the mission to make the country a global hub for the production, use, and export of green hydrogen and its derivatives will, in fact, assist the nation in becoming energy independent and making a significant progress toward the decarbonization of major economic sectors.


Green hydrogen is produced by electrolysis of water using renewable energy, unlike grey hydrogen, which uses natural gas. As a result, it does not release carbon dioxide into the atmosphere. In accordance with India's updated climate action pledge under the Paris Agreement to reduce emissions intensity (emission per unit of GDP) by 45% by 2030 from 2005 levels, it is anticipated that the mission would assist India in reducing nearly 50 million metric tons of annual greenhouse gas (GHG) emissions by 2030.


The Mission's implementation guidelines will be developed by the Ministry of New and Renewable Energy (MNRE), which will be approved by the Cabinet at its meeting, which will be presided over by PM Narendra Modi. The move comes just one day after Modi said that the mission was important and needed to meet India's growing energy needs. The Prime Minister spoke on Tuesday via video conference to a group of scientists at the 108th Indian Science Congress, which is being held in Nagpur. He said that in order for the Mission to succeed, it was necessary to make electrolysers and other important parts in the country.


The Strategic Interventions for Green Hydrogen Transition Programme (SIGHT) receives Rs 17,490 crore, while pilot projects, R&D, and other related initiatives receive Rs 400 crore and Rs 388 crore, respectively. In the coming years, it is anticipated that the allocation will encourage electrolyser-specific R&D and attract significant investments.


“The mission will result in a wide range of advantages, including the development of export opportunities for green hydrogen and its derivatives; industrial, energy, and mobility sector decarbonization; less reliance on imported feedstock and fossil fuels; enhancement of manufacturing capabilities within the country; creation of opportunities for employment; and the creation of cutting-edge technologies, according to a public statement.


By 2030, it is anticipated that the mission will assist India in reducing nearly 50 million metric tons of GHG emissions annually.

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