New Delhi: The Union Cabinet yesterday approved the Rs 19,744 crore National Green Hydrogen Project aimed at making India a global hub for clean energy generation.
The Union Cabinet meeting was chaired by Prime Minister Narendra Modi yesterday. Union Minister Anurag Thakur said yesterday: The Union Cabinet headed by Prime Minister Narendra Modi has approved the National Green Hydrogen Project. The scheme will be launched at an initial cost of Rs 19,744 crore. Of this, Rs 17,490 crore will be allocated for green hydrogen conversion activities, Rs 1,466 crore for flagship projects, Rs 400 crore for research and development and Rs 388 crore for other project activities. The Ministry of New and Renewable Energy will formulate guidelines for implementation of the scheme.
The project will boost green hydrogen production to at least 5 million metric tons per year. In addition, renewable energy capacity in the country will increase to 125 GW by 2030. It will lead to an investment of Rs 8 lakh crore and create more than 6 lakh jobs by 2030.
By producing green hydrogen in the country, we will reduce fossil fuel imports by over Rs 1 lakh crore. It will also reduce greenhouse gas emissions by 50 million tonnes per year by 2030.
Export of green hydrogen will create opportunities. Reduce carbon emissions from industries, vehicles and energy sectors. It will also reduce dependence on imports of petrol and diesel.
Domestic development of green hydrogen production will create jobs and promote advanced technologies. Under this scheme, research and development organization will be created with the participation of government and private sector. Central and state government departments will work in concert to ensure the success of this scheme. This is what he said.