India’s green hydrogen aid receives cautious response from investors
India’s first tranche of subsidies as part of a $2.4 billion green hydrogen plan attracted bidders including Sembcorp Industries, JSW Energy Ltd. and AM Green, while other major companies stayed away, according to people familiar with the development.
Acme Solar Holdings and Avaada Group also competed to help build a total capacity of 450,000 tons a year of the clean fuel, the people said, asking not to be named before an official announcement. State utility NTPC Ltd., and Adani Enterprises Ltd., which have green hydrogen plans of their own, didn’t take part in the auction.
