India approves $2.3 billion to develop green hydrogen

Jan 4, 2023, 1:41 PM | Updated: Jan 5, 2023, 3:44 am
FILE- A thick blanket of smoke envelops young ragpickers searching for reusable material at a garba...

FILE- A thick blanket of smoke envelops young ragpickers searching for reusable material at a garbage dump in New Delhi, India. Marking its biggest effort yet to make India a global hub for production, use and export of green hydrogen, the Indian federal government on Wednesday, Jan. 4, 2023, approved $2.3 billion funding with an aim to grow various segments of the green hydrogen sector in India. India hopes that this investment will abate 50 million metric tons of greenhouse gas emissions. (AP Photo/Altaf Qadri, File)

(AP Photo/Altaf Qadri, File)

              FILE- Traffic moves on an expressway on the outskirts of New Delhi, India, Wednesday, March 23, 2022 file photo. Marking its biggest effort yet to make India a global hub for production, use and export of green hydrogen, the Indian federal government on Wednesday, Jan. 4, 2023,  approved $2.3 billion funding with an aim to grow various segments of the green hydrogen sector in India. India hopes that this investment will abate 50 million metric tons of greenhouse gas emissions. (AP Photo/Altaf Qadri)
            
              FILE- A thick blanket of smoke envelops young ragpickers searching for reusable material at a garbage dump in New Delhi, India. Marking its biggest effort yet to make India a global hub for production, use and export of green hydrogen, the Indian federal government on Wednesday, Jan. 4, 2023,  approved $2.3 billion funding with an aim to grow various segments of the green hydrogen sector in India. India hopes that this investment will abate 50 million metric tons of greenhouse gas emissions. (AP Photo/Altaf Qadri, File)

BENGALURU, India (AP) — The government has approved $2.3 billion to support production, use and exports of green hydrogen, aiming to make India a global hub for the nascent industry.

The funding, announced late Wednesday, i s a first step toward establishing the capacity to make at least 5 million metric tons of green hydrogen by the end of this decade.

Green hydrogen is hydrogen that is produced through the electrolysis of water, powered by electricity generated from renewable sources of energy. Most of the world’s hydrogen is produced using fossil fuels, especially natural gas.

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.

He said the financing would also help add about 125 gigawatts of renewable energy capacity by 2030. As of October, India had about 166 gigawatts of renewable energy capacity.

Other aims are to create more than a half million new jobs, attract more private investment into the sector, reduce fossil fuel imports and cut greenhouse gas emissions by 50 million metric tons.

Many of India’s leading renewable energy companies, including companies owned by the Adani Group, Reliance Industries and JSW Energy; public sector companies like Indian Oil and NTPC Limited; and renewable-only companies such as Renew power are investing in production of green hydrogen.

Green hydrogen now amounts to a small fraction of global hydrogen use, estimated to be about 70 million tons per year. Most commercially produced hydrogen is grey hydrogen, produced using fossil fuels, and blue hydrogen that is also made using fossil fuels but with the use of carbon capture systems to reduce emissions. The production of green hydrogen results in the emission of little to no greenhouse gases.

In providing policy incentives for green hydrogen production, India is following the lead of many other countries such as China, the European Union and the United States. Energy analysts expect manufacturing costs for green hydrogen to fall significantly in the next few years and estimate the green hydrogen market will grow 20-fold to $80 billion by the year 2030.

“A robust policy framework, requisite financial support and an enabling ecosystem for technology development are essential to displace the country’s conventional fuel mix with green hydrogen and enhance its industrial competitiveness in an increasingly decarbonizing world,” said Shreyans Jain, an India-based sustainable business strategy consultant who closely tracks developments in the green hydrogen industry.

___

Follow Sibi Arasu on Twitter at @sibi123

___

Associated Press climate and environmental coverage receives support from several private foundations. See more about AP’s climate initiative here. The AP is solely responsible for all content.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

The logo for OpenAI, the maker of ChatGPT, appears on a mobile phone, in New York, Tuesday, Jan. 31...
Associated Press

Cheaters beware: ChatGPT maker releases AI detection tool

ChatGPT is trying to curb its reputation as a freewheeling cheating machine with a new tool that can help detect if artificial intelligence wrote it
18 hours ago
This undated photo provided by the Grants Pass Police Department shows Benjamin Obadiah Foster. Fos...
Rio Yamat and Andrew Selsky, Associated Press

Oregon kidnap suspect previously released the day he arrived at prison

A man at the center of an intense police search in Oregon after a violent kidnapping last week was released from custody in October 2021 by Nevada prison officials on the same day he was transferred to the state's custody to serve a kidnapping sentence, authorities said Monday.
18 hours ago
The final Boeing 747 sits on the tarmac outside of the factory at a ceremony for delivery, Tuesday,...
Associated Press

Boeing bids farewell to an icon, delivers last 747 jumbo jet

SEATTLE (AP) — Boeing bid farewell to an icon on Tuesday, delivering its final 747 jumbo jet as thousands of workers who helped build the planes over the past 55 years looked on. Since its first flight in 1969, the giant yet graceful 747 has served as a cargo plane, a commercial aircraft capable of […]
18 hours ago
seattle police...
Associated Press

Name of Seattle officer in crash that killed woman released

Police have released the name of a Seattle police officer who was responding to a medical call when his patrol SUV hit and killed a 23-year-old Jaahnavi Kandula last week in a city crosswalk.
18 hours ago
FILE - Bamm Gibson and the New Orleans Hot Jazz perform on the first day of the annual French Quart...
Associated Press

French Quarter Festival unveils lineup for 40th anniversary

NEW ORLEANS (AP) — Organizers on Tuesday announced a lineup of more than 270 acts for New Orleans’ 40th annual French Quarter Festival, billed as Louisiana’s largest free showcase of music, food and culture. Artists scheduled to perform at the April 13-16 event include Irma Thomas, Ani DiFranco, Tank and the Bangas, blues guitarist Samantha […]
18 hours ago
CORRECTS ELECTION YEAR TO 1985, NOT 1984 - State Rep. Alyce Clarke, D-Jackson, speaks to reporters ...
Associated Press

Mississippi’s 1st Black woman legislator won’t seek new term

JACKSON, Miss. (AP) — The first Black woman elected to the Mississippi Legislature said Tuesday that she will not seek another term, 38 years after she first took office. Democratic Rep. Alyce Clarke of Jackson, 83, announced her decision one day before candidates’ qualifying deadline for statewide, regional, legislative and county offices in Mississippi. “You […]
18 hours ago

Sponsored Articles

safety from crime...

As crime increases, our safety measures must too

It's easy to be accused of fearmongering regarding crime, but Seattle residents might have good reason to be concerned for their safety.
Comcast Ready for Business Fund...
Ilona Lohrey | President and CEO, GSBA

GSBA is closing the disparity gap with Ready for Business Fund

GSBA, Comcast, and other partners are working to address disparities in access to financial resources with the Ready for Business fund.
SHIBA WA...

Medicare open enrollment is here and SHIBA can help!

The SHIBA program – part of the Office of the Insurance Commissioner – is ready to help with your Medicare open enrollment decisions.
Lake Washington Windows...

Choosing Best Windows for Your Home

Lake Washington Windows and Doors is a local window dealer offering the exclusive Leak Armor installation.
Anacortes Christmas Tree...

Come one, come all! Food, Drink, and Coastal Christmas – Anacortes has it all!

Come celebrate Anacortes’ 11th annual Bier on the Pier! Bier on the Pier takes place on October 7th and 8th and features local ciders, food trucks and live music - not to mention the beautiful views of the Guemes Channel and backdrop of downtown Anacortes.
Swedish Cyberknife Treatment...

The revolutionary treatment of Swedish CyberKnife provides better quality of life for majority of patients

There are a wide variety of treatments options available for men with prostate cancer. One of the most technologically advanced treatment options in the Pacific Northwest is Stereotactic Body Radiation Therapy using the CyberKnife platform at Swedish Medical Center.
India approves $2.3 billion to develop green hydrogen