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Sustainable hydrogen push to biofuels pact: India's long green strides in 2023
Mint Mumbai
|December 25, 2023
India’s energy transition journey, which has gained pace in the past few years, witnessed traction with major domestic initiatives including the launch of the National Green Hydrogen Mission and viability gap funding for battery energy storage systems (BESS) to increase in its international outreach through the Global Biofuels Alliance.
A major policy initiative for its ambitious transition journey was kick-started with the much anticipated cabinet approval to the ₹19,744 crore National Green Hydrogen Mission with an aim to produce 5 million tonnes green hydrogen annually by 2030. Apart from encouraging projects for the usage of green hydrogen in sectors such as railways and shipping and supporting research and development, the mission has also allocated ₹17,490 crore for incentives under the Strategic Interventions for Green Hydrogen Transition (SIGHT) Programmes to boost production of green hydrogen and electrolyzers.
In another major move this year, the government in April announced plans to add 50GW of renewable energy capacity annually till FY28 in a bid to achieve the 500GW installed renewable energy by 2030. The ministry of new and renewable energy announced that these annual bids of ISTS (Inter-State Transmission System) connected renewable energy capacity will also include setting up of wind power capacity of at least 10GW per annum. This very road map of adding 50GW renewable energy capacity is expected to provide the impetus to power developers and states to push for more green energy projects.
This story is from the December 25, 2023 edition of Mint Mumbai.
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