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.
GH2 is made by electrolysis of water, using power from renewable energy sources. It does not emit any greenhouse gases. Efforts are on globally to make green hydrogen the fuel that can help countries attain their net-zero emission targets.
Emergence of the first set of serious standalone and integrated participants forging partnerships to aggregate capabilities and infrastructure to tap into GH2 derivatives.
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. Significant push is also substantiated by the clean attributes of hydrogen and its high energy content.
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. Blue hydrogen is produced mainly from natural gas.
Tags: Avendus Capital, GH2, Green Hydrogen
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