Key Points
Green hydrogen (GH2) and green ammonia segments are estimated to drive investments of $125 billion (about 10.43 lakh crore) in India by 2030, according to a report by investment banking firm Avendus Capital...
The report, titled 'Green Hydrogen, The Next Frontier In Energy Transition', said the growth would be driven by an increasing focus on sustainability, demonstrated commercial viability, ever-expanding use cases and a strong regulatory push...
"India is home to one of the cheapest renewable electricity costs globally, has abundant availability of fresh water and is emerging as a global manufacturing hub - three essential elements required for the production of green hydrogen at a competitive cost," said Prateek Jhawar, managing director, Avendus Capital...
"While the commercial and industrial business model for domestic consumption of green hydrogen will drive the first set of investments in the sector, the steel industry will form the largest share of off-take contracts in the near term with the imposition of the Carbon Border Adjustment Mechanism in the EU," Jhawar said.. GH2 is being touted as the fuel of the future, with massive research and development investments in establishing the commercial viability of hydrogen in transport, power, aviation, shipping and other industrial uses..
The report said green hydrogen is becoming increasingly competitive with the current production forms of hydrogen as production costs have plummeted more than 40% in the past eight years and is expected to reduce further and reach parity with blue hydrogen in the near future..
