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Reliance Electrolyser Manufacturing, Jindal India and John Cockerill Greenko Hydrogen Solutions are among the six firms who have emerged as successful bidders for getting incentives to set up facilities to manufacture electrolysers, a critical component required for green hydrogen
This is in line with India's ambitious target of having 500 GW of renewable energy by 2030 and its resolve to reduce overall power generation capacity from fossil fuels to less than 50 per cent. India has committed a net zero emission target by 2070.
In an interview to PTI, R K Singh said, "India is likely to witness 25 GW of renewable energy capacity addition entailing an investment of Rs 1,37,500 crore (about USD 16.5 billion) in 2024 calendar year, which would be higher than 13.5 GW with an investment of Rs 74,250 crore (nearly USD 9 billion) seen in 2023."
Companies such as Reliance Electrolyzer Manufacturing, Adani New Industries, L&T Electrolysers, and Bharat Heavy Electricals are among the 21 firms bidding for the government's incentive to manufacture electrolysers.
Meanwhile, 14 companies have evinced interest for incentives to set up production facilities of 5,53,730 tonnes of green hydrogen, against the offered capacity of 4,50,000 tonnes