India's Green Hydrogen Revolution: Fueling the Future
The price of green hydrogen, a zero-emission fuel, has dropped significantly due to tenders from Indian state-owned companies. This positions India as a potential leader in the global hydrogen market, targeting production of 5 million tonnes annually by 2030, driven by investment and policies.
- Country:
- India
The cost of green hydrogen, a crucial zero-emission fuel, has decreased by more than USD 1 per kg, according to Oil Minister Hardeep Singh Puri. State-owned companies like Indian Oil Corporation (IOC) have been instrumental in this price reduction through strategic tenders.
Previously priced at USD 5.5 per kg, green hydrogen now costs between USD 4.4 and USD 4.5 per kg. This competitive pricing is reflected in IOC's tender for a 10,000 tonnes per annum facility at its Panipat refinery, where Larsen & Toubro bid USD 4.5 per kg. Similarly, tenders by Bharat Petroleum and Hindustan Petroleum saw bids as low as USD 4.39 per kg.
This significant shift positions India to become a key player in the global hydrogen market. With the aim of producing 5 million tonnes annually by 2030, the country is backed by significant policy support and aims to capture 10% of the global market. Green hydrogen is an integral component of India's future energy security and economic strategy.
Google News