Economy News

India needs to form Green Hydrogen Corridors and governments can look at providing grants to startups as well as support entrepreneurs to promote green hydrogen, NITI Aayog said on Wednesday. In a report titled 'Harnessing Green Hydrogen - Opportunities for Deep Decarbonisation in India', the Aayog also suggested that there is a need to facilitate investment through demand aggregation and dollar-based bidding for green hydrogen.

Three hydrogen corridors should be developed across the country based on state grand challenges ... The governments can provide grants and loans to startups and projects, support entrepreneurs through incubators and investor networks, and put in place regulations that manage first-mover risks, the report said. The government can also use public procurement and purchase incentives (for green hydrogen) to create demand in niche markets and crowd in private investment, it added.

The report suggested that the government should promote export of green hydrogen and green hydrogen-embedded products through a global hydrogen alliance. Green Hydrogen/ Green Ammonia is defined as hydrogen/ ammonia produced by way of electrolysis of water using renewable energy, including renewable energy which has been banked and the hydrogen/ammonia produced from biomass.

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