How India New Green Hydrogen and Green Ammonia Investment Force?
Investment of USD 125 Billion Expected in India Due to Green Hydrogen and Green Ammonia
Green hydrogen and green ammonia are emerging as crucial components of the sustainable energy landscape, poised to revolutionize the energy sector in India.
According to a comprehensive report by Avendus Capital, these green fuels are anticipated to attract a substantial investment of USD 125 billion in India by the year 2023.
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What is Green Ammonia?
Green ammonia, a carbon-free fuel, is manufactured through a renewable process that involves extracting hydrogen from water electrolysis and nitrogen from the air.
What is Green Hydrogen?
Green hydrogen is produced by electrolyzing water using renewable electricity, thereby separating hydrogen and oxygen.
The surge in investments in green fuels is being primarily fueled by a collective emphasis on sustainability, economic viability, and robust government backing to facilitate their widespread adoption, bolstered by stringent regulatory frameworks. Globally, research and development efforts are underway to leverage green hydrogen as a key component in achieving ambitious net-zero emission targets.
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India Market share and Consumption ranking in Hydrogen
India, as the third-largest consumer of hydrogen worldwide with an annual demand of around 6 million metric tonnes per annum, is strategically positioned to produce cost-effective green hydrogen.
The country’s abundance of water resources, cost-effective renewable energy production, and its emergence as a global manufacturing hub make it an attractive destination for green hydrogen production.
In a bid to bolster the green hydrogen industry, the Indian government has rolled out incentives to promote the production of electrolysers and green hydrogen through schemes like Production Linked Incentives (PLIs) and the National Hydrogen Mission.
Additionally, various state governments have announced incentives to foster the growth of the green hydrogen ecosystem.
Leading Indian corporations and global electrolyser manufacturers have already initiated their green hydrogen projects in India, capitalizing on the country’s competitive production costs, geographical proximity to key importing nations, and well-established export infrastructure, positioning India as a significant player in the global green hydrogen market.
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How India New Green Hydrogen and Green Ammonia Investment Force? To cater to the escalating export demand, the Indian government has identified three strategic green hydrogen/ammonia hubs near the ports of Kandla, Paradip, and Tuticorin.
Collaborative partnerships are being forged with existing ammonia facilities located near ports to meet the burgeoning export requirements, underscoring India’s commitment to leveraging green hydrogen and green ammonia as pivotal drivers of sustainable energy transformation.
