India plans green hydrogen incentives of at least 10% of cost: India plans to give green hydrogen fuel producers incentives worth at least 10% of their costs under a $2 billion scheme set to begin before the end of June, a top government official said. The govt has approved a 174.9 billion rupee incentive plan to promote green hydrogen to cut CO2 emissions and become a major exporter in the sector.
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The government will give incentives worth at least 30 Indian rupees per kg for production of green hydrogen fuel, the official, who is directly involved but did not want to be identified because the discussions are private, told Reuters.
The cost of manufacturing green hydrogen in India is about Rs 300/ kg and the government will give incentives worth at least Rs 30/kg for the production of green hydrogen fuel.
In response to a query from Reuters, India’s Renewable Energy Secretary Bhupinder Singh Bhalla said the incentives will be awarded through a competitive bidding process, and the incentive amount will taper down annually.
“Draft concept notes on the programme have been circulated to industry chambers and associations for consultations,” he said.