Uttar Pradesh has received private investment proposals totaling nearly Rs 1.15 trillion in the green hydrogen sector, boosting the state’s clean energy roadmap.
The green hydrogen proposals from 17 companies are expected to generate job opportunities for 20,000 people. Among the key players, UK-based Trafalgar Square Capital has committed to establishing a 10,000-tonnes-per-annum green hydrogen production facility near Lucknow.
Textile giant Welspun Group plans to invest Rs 40,000 crore in a green hydrogen or ammonia plant in Bulandshahr, while Hygenco Green Energies has proposed setting up a 0.2 million-tonne green hydrogen facility in Prayagraj, with an investment of Rs 16,000 crore.
The Yogi Adityanath government has set a target of 1 million tonnes per year for green hydrogen or green ammonia production by 2029.
Anupam Shukla, director of the UP New & Renewable Energy Development Agency, said that as the world grapples with climate change and seeks sustainable energy sources, green hydrogen has emerged as a viable solution.
Green hydrogen and ammonia are produced by the electrolysis of water using renewable energy or stored renewable energy.
Under the UP Green Hydrogen Policy 2024, the state has introduced administrative and financial incentives to promote green hydrogen or ammonia production and facilitate market creation and demand aggregation.
“Our initial focus will be on using hydrogen in nitrogenous fertilisers and refinery industries. Later, we will expand the application of green hydrogen to other industries in line with the National Green Hydrogen Mission,” Shukla added.
The state aims to reduce the cost of green hydrogen production by encouraging research and innovation in production and consumption technologies. Moreover, UP has implemented a single-window clearance system to streamline the expansion of new green hydrogen or ammonia projects and existing units. The state is also working on preparing a database of available land and water resources to support power transmission systems and assist potential investors.
India’s vast renewable energy resources, particularly solar and wind, make it an ideal location for large-scale green hydrogen production. The International Energy Agency has noted that India’s renewable energy capacity can provide the low-cost electricity needed for green hydrogen production, potentially making it one of the most cost-effective producers globally.
First Published: Sep 19 2024 | 5:44 PM IST
