India will require capital expenditure of INR 8-9 trillion ($97.9-110 billion) to reach a green hydrogen production capacity of 5 MMT (million metric tonnes) per annum by 2030.
This will include INR 5.5-6 trillion into setting up 115-125 GW of renewable energy capacity (considering plant load factor in the range of 23-25%) to power hydrogen production. The remaining INR 3-3.5 trillion is required to build 35-40 GW of electrolyzer requirement (with plant efficiency in the range of 75-80%), according to a new analysis by ICRA.
Successful implementation of the Mission will result in a 3-8% decline in imports of petroleum and coal products. Further, 50 MMT per annum of CO2 emissions is expected to be averted due to the adoption of the Green Hydrogen Mission.
The National Green Hydrogen Mission targets the development of a green hydrogen production capacity of at least 5 MMT per annum by 2030 with an associated renewable energy capacity addition of about 125 GW in the country. The initial outlay for the mission is INR 197 billion.
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