India may attract $100 bn investments in green hydrogen by 2030: Joshi

India targets 5 MTPA green hydrogen by 2030, eyeing $100 bn investment and 600,000 jobs, as renewables surge and the nation aims to be a global hydrogen hub

India’s ambition to achieve 5 million tonnes per annum (mtpa) of green hydrogen production capacity will attract $100 billion investments by 2030 and create over 0.6 million jobs, said Union Minister of New and Renewable Energy Pralhad Joshi.

 

Banking on India’s recent growth in renewables, the country aims to become a global hub for production, utilisation, and export of green hydrogen, said Joshi at S&P Global Commodity Insights’ World Hydrogen India summit held on Thursday. 

 

“Our approach is centred on improving ease of doing business and de-risking investment across the value chain,” he added.

 

The minister said that the country’s non-fossil fuel-based power generation capacity has already reached 250 gigawatt (Gw), which the government plans to increase to 500 Gw by 2030. 

 

The 250 Gw non-fossil capacity includes 123.13 Gw solar, 52.68 Gw wind energy, 55.22 Gw hydro, 11.60 Gw bio-energy, and 8.78 Gw nuclear energy.

 

S&P Global launched a report at the event, which predicted the share of hydrogen in India’s energy demand to increase beyond 3 per cent by 2060 from the current level of 1.8 per cent, where 80 per cent of production will be supported by green hydrogen. Within this scenario, the global hydrogen demand could grow up to 3.5 times, rising from the current 1.7 per cent of final energy demand to over 7 per cent by 2060.