Gujarat to spend Rs 2-trillion on green hydrogen production
Gujarat wants to leave no stone unturned when coming to renewable energy expansion in the state and make it a hot-spot for green hydrogen production on global map. Now Gujarat Chief Minister Bhupendra Patel has unveiled a budget of Rs 2 trillion and a special land policy to transform the state into a global hub for green hydrogen production.
This announcement was made on the concluding day of the three-day Vibrant Gujarat Global Summit. Patel emphasized Prime Minister Narendra Modi’s goal of achieving 50% of the state’s energy needs through non-fossil fuel-based sources.
Setting a target of 5 million tonnes per annum for green hydrogen production by 2030, Patel committed the Gujarat government to contribute a production capacity of 3 million tonnes per annum by the same deadline. To facilitate this ambitious endeavor, a budget corpus of Rs 2 trillion has been allocated, along with the allocation of 200,000 hectares in Kutch and Banaskantha districts.
VK Saraswat, NITI Aayog member, stressed the need to reduce electrolyzer costs by approximately 80% and simultaneously increase their efficiency by around 75%.
He emphasized on the importance of making sustainable energy sources available at an affordable price, ideally around Rs 2 per unit, to meet the energy needs of Indian consumers.
Upcoming Hydrogen Exchange
Additionally, the Indian Gas Exchange (IGX) and Gujarat State Petroleum (GSPC) signed an MoU with GIFT IFSC, introducing global hydrogen trading at GIFT City and the subsequent launch of the Global Hydrogen Price Index.
The NTPC Hydrogen Deal
During the Vibrant Gujarat Global Summit, NTPC Green Energy Ltd (NGEL) entered into MoUs with Gujarat State Petroleum Corporation Ltd. (GSPC) and Gujarat Pipavav Port Ltd. (GPPL). The agreement with GSPC focuses on blending green hydrogen into GSPC’s gas networks and establishing green hydrogen fuelling stations for mobility in Gujarat.
