The Gujarat government's draft policy for green hydrogen manufacturing to reduce carbon emissions by 45% by 2030 will be ready within two months, said Kanubhai Desai, Minister of Energy, Petrochemicals and Finance.
He was addressing a session on green hydrogen and renewable energy at the 10th Vibrant Gujarat Summit held in Gandhinagar, Gujarat.
The Gujarat government, as part of its Land Allotment Policy, had recently announced several incentives for businesses that invest in the state's green hydrogen projects to reach 50% green hydrogen production capacity within five years of plant commissioning and 100% within eight years.
According to the land allotment policy, industries that produce at least one million metric tonnes per year must have 500 MW of solar, wind, and hybrid energy generation experience.
Green hydrogen must be produced using renewable energy sources, as one kilogramme of green hydrogen (GH) requires 50 to 55 units of renewable energy power.
Gujarat, which leads India in its production of renewable energy and the ready availability of renewable energy, will benefit Reliance and Adani Group, which have committed to investing Rs 10 lakh crore to produce three million metric tonnes of renewable hydrogen.
At the Vibrant Gujarat Summit, Mukesh Ambani of Reliance Industries announced its renewable power plant to be operational in 2024.
Gautam Adani Founder and Chairman of Adani Group committed investments of Rs 2 lakh crore in Gujarat in the next five years focused primarily on the development of a green energy park in the Kutch region of Gujarat.
Other firms, such as ArcelorMittal and Torrent, have also signed MOUs for investment in green energy initiatives.
India's leading power generation major, NTPC has planned to install 60 GW of renewable energy by 2030, Gurdeep Singh of NTPC stated while speaking at the Vibrant Gujarat Summit.
The firm has already initiated the blending of green hydrogen up to 8 percent (vol/vol) in the PNG Network at NTPC Kawas Township, Surat, Gujarat.
NTPC Renewable Energy, a subsidiary of NTPC, recently announced commercial operations of its first project, a 50 MW wind project in Gujarat, bringing the NTPC Group's total installed capacity to 73,874 MW, with a renewable energy operational capacity of 3,364 MW, as part of its goal of reaching 60 GW of renewable energy capacity by 2032.