India plans $2.2-bln green hydrogen initiative
NEW DELHI, December 27, 2022 – India’s government plans to launch a USD 2.2-billion green hydrogen incentive programme, Reuters reported on Tuesday.
The proposed initiative aims to cut the price of producing green hydrogen by 20% over the next five years by increasing the scale of activity in the sector.
According to sources, the current cost of producing green hydrogen is between USD 3.63 and USD 4.83 per kilogramme.
It is expected the programme will be launched in February as part of the government’s next fiscal year budget.
Major Indian energy companies such as Reliance Industries, Indian Oil Corporation, NTPC, Adani Enterprises, JSW Energy and ACME Greentech Solutions have plans to build green hydrogen assets in the country.
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