The Indian government could soon announce an incentive program worth $2.2 billion to help reduce the production of cost of green hydrogen.
, the incentive package could be part of next year’s budget scheduled to be tabled in the Sansad on 1 February.
Oil refineries and fertilizer manufacturers are the leading consumers of hydrogen in India, representing an annual demand of 5 million tonnes. Currently, this hydrogen is produced either as a byproduct in the petroleum refining process or from natural gas. Both these processes generate greenhouse gas emissions. India lacks any significant reserves of natural gas, making it highly dependent on costly imports.
Ohmium International is currently the only manufacturer of electrolyzers in India. While the company has announced to increase production capacity its current capacity in nowhere near the impending demand.
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