GH2 sops less than West but power minister RK Singh sure of 60 GW capacity by 2030

NEW DELHI: Green hydrogen (GH2) incentives of a little over $2 billion may be woefully lower than major economies but using part of the funds to give a small subsidy to consumer industries will hasten the development of an ecosystem and lead to backing out nearly two-thirds of expensive LNG imports, analysts and industry executives said.

Government documents show Germany offering the highest GH2 support at $10.3 billion, followed by the US $9 billion, France $8.2 billion and the European Union $4.3 billion.

Power minister Raj Kumar Singh on Thursday said the bidding norms for administering the incentives, part of which is meant to support 15 gigawatts of domestic electrolyser manufacturing capacity by 2030. “But we expect the capacity to reach 60 GW by then. It will be the largest in the world,” he added.