India approves $2.3 billion fund to support green hydrogen production

January 5, 2023 |

In India, the government announced it has approved a $2.3 billion fund to support production, use and exports of green hydrogen. The funding represents a first step toward establishing the capacity to produce at least 5 million metric tons of green hydrogen by the end of this decade. The aim of the funding initiative is “to make green hydrogen affordable and bring down its cost over the next five years. It will also help India reduce its emissions and become a major exporter in the field,” said Anurag Thakur, India’s minister for information and broadcasting. The government also noted that the financing would also help add about 125 gigawatts of renewable energy capacity by 2030.

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Category: Policy

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