India Hydrogen Alliance Advocates Additional $2.5 Billion for Green Mission

The India Hydrogen Alliance has proposed an extra $2.5 billion budget for the National Green Hydrogen Mission. This funding aims to support demand incentives and infrastructure to tackle slow project development. It also seeks to ensure India meets its green hydrogen objectives by 2030.

India Hydrogen Alliance has called for an increased budget of $2.5 billion for the National Green Hydrogen Mission in the forthcoming Budget. This additional funding is deemed crucial for providing demand-side incentives and boosting capital expenditure for hydrogen infrastructure.

The Alliance has emphasized the slow pace of project development and the lack of offtake agreements as significant concerns that could be alleviated with increased financial support. The proposed budget increase would aim to establish green hydrogen development corporations and address existing industry challenges.

This financial backing will be instrumental in developing five more national hydrogen hubs, thereby contributing to India's ambition of meeting its green hydrogen targets for 2030. The India Hydrogen Alliance comprises global and Indian companies and seeks to reduce hydrogen production costs and enhance local supply chains.

(With inputs from agencies.)