The large investment in green hydrogen aims to help one of the world's biggest greenhouse gas emitters achieve net-zero carbon emissions by 2070.
The aim of the funding initiative is “to make green hydrogen affordable and bring down its cost over the next five years. It will also help India reduce its emissions and become a major exporter in the field,” said Anurag Thakur, India’s minister for information and broadcasting.
The funding will also serve to help establish the capacity to make at least five million metric tons of green hydrogen by 2030, which would add about 125 gigawatts of renewable energy capacity, the government has revealed.
As of October 2022, India had about 166 gigawatts of renewable energy capacity.
While hydrogen is a potentially zero-carbon fuel source, it can be more carbon intensive than gas and coal if derived from fossil fuels rather than through electrolysis powered by a renewable energy source, what is known as 'green...
