New Delhi, Jan 4: Cabinet has approved National Green Hydrogen Mission with an initial outlay for the Mission decided to be Rs.19,744 Crore, including an outlay of Rs.17,490 Crore for the SIGHT programme, Rs.1,466 crore for pilot projects, Rs.400 crore for R&D, and Rs.388 crore towards other Mission components. MNRE will formulate the scheme guidelines for implementation of the respective components.
The Mission is expected to result with numerous significant outcomes by 2030. Development of Green Hydrogen Production capacity of at least 5 MMT (Million Metric Tonne) per annum with an associated renewable energy capacity addition of about 125 GW in the country, is expected out of the mission. Over Rs. eight lakh crore in total investments, creation of over six lakh jobs, cumulative reduction in fossil fuel imports over Rs. 1 lakh Crore, abatement of nearly 50 MMT of annual greenhouse gas emissions are the other assets expected out of the mission.
As per the reports, the Mission will have wide ranging benefits, creation of export opportunities for Green Hydrogen and its derivatives; decarbonization of industrial, mobility and energy sectors; reduction in dependence on imported fossil fuels and feedstock; development of indigenous manufacturing capabilities; creation of employment opportunities; and development of cutting-edge technologies. The targets by 2030 are likely to bring in over Rs. 8 lakh Crore investments and create over 6 lakh jobs. Nearly 50 MMT per annum of CO2 emissions are expected to be averted by 2030.
The Mission will facilitate demand creation, production, utilization and export of Green Hydrogen. Under the Strategic Interventions for Green Hydrogen Transition Programme (SIGHT), two distinct financial incentive mechanisms – targeting domestic manufacturing of electrolysers and production of Green Hydrogen – will be provided under the Mission. The Mission will also support pilot projects in emerging end-use sectors and production pathways. Regions capable of supporting large scale production and utilization of Hydrogen will be identified and developed as 'Green Hydrogen Hubs'.