What is the Green Hydrogen Mission?
The objective of the Green Hydrogen Mission is to make India the Global Hub for the production, usage, and export of Green Hydrogen and its derivatives. This will contribute to India’s aim to become self-reliant through clean energy. The Mission will also lead to significant decarbonisation of the economy, reduced dependence on fossil fuel imports, and enable India to assume technology and market leadership in Green Hydrogen. You can check out the entire explainer here. With the push for the adoption of this clean energy, Green Hydrogen stocks in India are likely to see significant movements in the coming months.
What is Green Hydrogen, and how is it obtained?
This technology is based on hydrogen generation — a universal, light, and highly reactive fuel — through a chemical process known as electrolysis. This method uses an electrical current to separate the hydrogen from the oxygen in the water. Basically, the electricity is obtained from renewable sources and will, therefore limit carbon dioxide emissions into the atmosphere.
Green Hydrogen Companies Stocks In India
- Reliance Industries Ltd: Speaking at the company’s 45th annual general meeting (AGM), Ambani said the company will progressively commence transition from grey hydrogen to green hydrogen by 2025.
- GAIL: GAIL (India) Ltd will build one of India’s largest proton exchange membrane (PEM) Electrolyser in India, Madhya Pradesh. It is scheduled to be commissioned by November 2023.
- National Thermal Power Corporation Limited (NTPC): Earlier in January this month, NTPC announced a joint effort of NTPC and Gujarat Gas Ltd (GGL) to start green hydrogen blending in the Piped Natural Gas (PNG) network of NTPC Kawas township, Surat.
- Indian Oil Corporation: Indian Oil Corporation (IOC) is working to replace at least 10th of its current fossil-fuel-based hydrogen with carbon-free green hydrogen as part of a decarbonization drive. The company is targeting 5 % of hydrogen produced by it as green hydrogen by 2027-28 and 10 % by 2029-30.
- Larsen and Toubro: Engineering major L&T commissioned a green hydrogen plant at its AM Naik Heavy Engineering Complex in Hazira, Gujarat in August 2022. The plant produces 45 Kg of green hydrogen on a daily basis, which is used for captive consumption in the company’s Hazira manufacturing complex.
- JSW Energy: JSW Energy with its subsidiary JSW Future Energy entered into a framework agreement back in 2021 with Australian Fortescue Future Industries to collaborate on green hydrogen production.
- Jindal Stainless: Jindal Stainless (Hisar) Ltd partnered with Hygenco India Private Limited back in August 2022 to install a Green Hydrogen Plant.
– Debraj Guha Thakurta & Nischay Avichal
