Inox Air plans to expand into the green hydrogen market, with investment plans of ₹3,000 crore across its nine sites.
Here’s a post by EQMAGPro gathering the details:
- Inox Air Products Ltd, India’s largest manufacturer of industrial and medical gases, is set to enter the green hydrogen business with a massive investment plan.
- The company plans to invest up to ₹10,000 crore in the green hydrogen segment, which is part of India’s National Green Hydrogen Mission.
- India aims to become a global leader in green hydrogen and has set a target of creating 5 million tonnes of capacity by 2030.
India is experiencing a significant shift towards adopting green hydrogen technologies, driven by its abundant renewable energy resources and ambitious climate commitments. Here’s an overview of the current trends in green hydrogen adoption in India:
- Government Initiatives: The Indian government has launched the National Green Hydrogen Mission (NGHM), aiming for a production capacity of 5 million metric tonnes per annum (MMTPA) by 2030, backed by an investment of approximately $2.3 billion. This mission is part of India’s broader strategy to achieve net-zero emissions by 2070 and enhance energy security by reducing dependence on fossil fuels.
- Technological Advancements: Rapid improvements in electrolyser technology are making green hydrogen production more economically viable. The costs associated with renewable energy sources, particularly solar and wind, are declining, further supporting the feasibility of green hydrogen as a competitive alternative to traditional hydrogen.
- Market Potential: India currently produces about 6.5 MMTPA of hydrogen, predominantly grey hydrogen derived from fossil fuels, which contributes to carbon emissions. The transition to green hydrogen is seen as a crucial step in decarbonizing sectors such as transportation, steel, and fertilizers, which traditionally rely on grey hydrogen.
- Infrastructure Development: There is a pressing need for infrastructure to support green hydrogen production, storage, and distribution. The government is working on establishing hydrogen refueling stations and other necessary facilities to facilitate the transition to green hydrogen technologies.
- International Collaboration: India is positioning itself as a potential exporter of green hydrogen to markets such as the European Union, Japan, and South Korea, leveraging its renewable energy capabilities to meet global demands.
Interestingly, we have some other posts related to this content:
Hydrogen-Fired Glass Furnace Bid -By Absolut Vodka and Ardagh Group – Absolut Vodka and Ardagh Group have partnered to invest in a hydrogen-fired glass furnace for eco-friendly bottle production. Mobile Hydrogen Generator: Bid By CSIRO -CSIRO has invested $10 million in Australia’s first mobile hydrogen generator, aimed at producing hydrogen directly at the point of consumption. Hive Energy In Green Hydrogen: Bid on Hydrilyte Storage – Hive Energy has invested A$1.6 million in Carbon280’s Hydrilyte® hydrogen storage technology, marking a significant step forward in their green hydrogen and ammonia projects pipeline. Green Hydrogen Bid By Allianz: Solar Pv and Wind Farms – Allianz has made significant investments in renewable energy sources, including solar PV and wind farms, for nearly two decades. Green Hydrogen Bid By Newtrace: Develops Electrolyzers For 60% Cost Reduction – Newtrace, a climate tech startup, has successfully raised $5.65 million in a seed funding round led by Sequoia Capital India and Aavishkaar Capital.
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