As the world is sailing towards achieving zero emissions, India is also doing its part, as the Asian giant eyes to produce 25 million tons of green hydrogen annually by 2047, Economics Times reported quoting people familiar with the matter.
India's massive expansion to increase green hydrogen production is to curb energy imports and wean the economy off fossil fuels to meet climate targets.
Even though the aim is to produce 25 million tons by 2047, the numbers could change as time progresses, the people who wished to stay anonymous said.
According to industry experts, green hydrogen is expected to play a huge role in decarbonization efforts in the future, especially in oil refineries, steel mills and fertilizer plants.
It should be noted that India's current output of green hydrogen is very low, and the country should ramp up its production to meet the climate goal targets. However, the country is still facing difficulties to scale up its production in a cost-effective manner.
According to data from various sources, India is the world's third largest emitter of green house gases. The government aims for net-zero emissions in the country by 2070, and it is carrying out various initiatives to achieve this target.
India's decarbonization efforts are also getting support from billionaires like Gautam Adani and Mukesh Ambani, as well as state energy giants like NTPC Ltd and Indian Oil Corp.
