New Delhi, Oct 8 (NationPress) The Minister of Petroleum and Natural Gas, Hardeep Singh Puri, announced on Wednesday that India has officially entered its Hydrogen Age, aiming for the production of 5 million metric tonnes of green hydrogen by 2030, which is expected to account for a 10 percent share of the global market.

Puri noted that the cost of green hydrogen is projected to decrease to below $3 per kg from the current price of $3.5 per kg.

He stated, "If prices decline, India can implement green hydrogen on a much larger scale, significantly reducing our dependence on imports. Under the leadership of Prime Minister Narendra Modi, Bharat is establishing a reliable hydrogen hub that will drive growth, enhance exports, and ensure a cleaner future."

Official projections suggest that at a price of $2.5 per kg, India could potentially replace $150 billion in energy imports.

Puri revealed plans for an initial capacity of 1 million tonnes per annum (MTPA) in green hydrogen, beginning with tenders for 42,000 tonnes per annum, which will later be expanded to 170,000 tonnes per annum.

In the pilot phase, 37 hydrogen vehicles will be introduced alongside 9 refuelling stations.

The minister mentioned that 19 companies have been granted a combined capacity of around 9 lakh tonnes per annum (TPA).

Launched on January 4, 2023, the National Green Hydrogen Mission has an outlay of Rs. 19,744 crores until FY 2029-30. This initiative supports India’s ambition to become Aatmanirbhar (self-reliant) in clean energy and aims to inspire the global shift towards clean energy. The mission is expected to lead to significant decarbonisation of the economy, decreased reliance on fossil fuel imports, and position India as a leader in Green Hydrogen technology and markets.

The NTPC, a state-owned power sector giant, is establishing a cutting-edge Green Hydrogen Hub Project at Pudimadaka near Visakhapatnam in Andhra Pradesh, with an investment of Rs 1.85 lakh crore, as part of the government’s major push towards clean energy.

This project, spearheaded by NTPC Green Energy Limited (NGEL), is the first Green Hydrogen hub under the National Green Hydrogen Mission, aimed at helping India meet its net-zero emissions target.

The NGEL Green Hydrogen Hub project will involve an investment in 20 GW of renewable energy capacities, making it one of India’s most extensive integrated green hydrogen production facilities, capable of generating 1,500 TPD of green hydrogen and 7,500 TPD of green hydrogen derivatives.