India Accelerates Green Hydrogen Goals with Viability Gap Funding

India plans to offer viability gap funding for 3,000 MW annual electrolyser manufacturing to enhance green hydrogen production. The National Green Hydrogen Mission, launched in January 2023, targets a minimum of 5 MMT production annually and seeks major investments, job creation, and sectoral innovations.

India is taking decisive steps to boost its green hydrogen production capabilities by introducing viability gap funding for electrolyser manufacturing, targeting an impressive 3,000 MW capacity each year. This move aligns with the National Green Hydrogen Mission's ambitious objectives outlined in early 2023.

In a written statement to the Rajya Sabha, Minister of State for New & Renewable Energy, Shripad Yesso Naik, detailed the planned financial incentives for electrolyser production, highlighting a broader goal of developing at least 5 MMT of green hydrogen annually. The initiative also aims at catalyzing investments worth over Rs 8 lakh crore while generating significant employment opportunities.

Further, the Mission will encourage demand, production, and export strategies for green hydrogen. With strategic interventions and pilot projects planned, regions conducive to large-scale hydrogen activities will be transformed into Green Hydrogen Hubs. Aligning with COP26 commitments, the ministry works towards achieving 500 GW of non-fossil energy capacity by 2030.

(With inputs from agencies.)