In the union budget for 2024-25, a notable allocation of ₹600 crore has been designated for the national green hydrogen mission, reflecting a substantial increase of 102% from the previous year’s budget of ₹297 crore. The allocation marks a significant 500% rise from the revised budget estimate of ₹100 crore for the same mission.
The national green hydrogen mission was initiated with an initial outlay of ₹19,744 crore, comprising ₹17,490 crore for the SIGHT program, ₹1,466 crore for pilot projects, ₹400 crore for research and development, and ₹388 crore for other mission components.
The primary objective of the mission is to position India as a global manufacturing hub for green hydrogen, an environmentally friendly and sustainable energy source. The Ministry of New and Renewable Energy (MNRE) is responsible for formulating scheme guidelines for implementing various components. The mission proposes two financial incentive mechanisms, with an outlay of ₹17,490 crore until 2029-30, aimed at promoting the manufacturing of electrolysers and the production of green hydrogen.
As reported by The Economic Times, by 2030, the mission aims to establish a green hydrogen production capacity of at least five million metric tons per annum, accompanied by the addition of approximately 125 GW of renewable energy capacity nationwide. The mission also anticipates an investment exceeding ₹8 lakh crore. During the initial phase, the mission plans to establish at least two green hydrogen hubs. An allocation of ₹400 crore has been set aside for these hubs and other associated projects until 2025-26.
