Business News | Union Cabinet Approves National Green Hydrogen Mission

New Delhi [India], January 4 (ANI): Union Cabinet on Wednesday approved the National Green Hydrogen Mission, which aims to make India a global hub for the production, utilization, and export of such technologies.

The green hydrogen mission will gradually lead to the decarbonization of industrial, transport, and energy sectors; a reduction in dependence on imported fossil fuels, among others.

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India meets a sizable portion of its energy needs through imports, and this green hydrogen mission is seen as an avenue to reduce the dependence of imported fuel.

The initial financial outlay for the mission is pegged at Rs 19,744 crore, which includes research and development activities.

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Under this mission, the government aims to raise annual green hydrogen production to 5 million tonnes, renewable energy capacity addition of about 125 gigawatts, attract over Rs 8 lakh crore in investments, lakhs of jobs, and most importantly over Rs 1 lakh crore cumulative reduction of fossil fuel imports.

The mission is expected to help in reducing greenhouse gas emissions by nearly 50 million tonnes.

In the Budget Speech 2021-22, Finance Minister Nirmala Sitharaman proposed to launch a National Hydrogen Mission for generating hydrogen from green power sources.

Hydrogen, like electricity, is an energy carrier that must be produced from another substance. Hydrogen can be produced--separated--from a variety of sources including water, fossil fuels, or biomass and used as a source of energy or fuel.

India has a huge edge in green hydrogen production owing to its favourable geographic conditions and the presence of abundant natural elements.

In his Independence Day speech on August 15, 2021, Hon'ble Prime Minister announced the launch of National Hydrogen Mission.

"Of every effort being made by India today, the thing that is going to help India with a quantum leap in terms of climate is the field of Green Hydrogen. To achieve the goal of Green Hydrogen, I am announcing the National Hydrogen Mission today with this tricolour as a witness," Prime Minister Modi had said from the Red Fort. (ANI)

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