Hydrogen is the most abundant element in the universe and has the potential to store tremendous amounts of energy. Under the right circumstances, it can be a viable alternative to fossil fuels and can significantly contribute to decarbonization. Accordingly, in India’s quest to decarbonize and achieve net zero emissions by 2070, it seeks to manufacture and deploy Green Hydrogen (“GH2”), and its derivates such as Green Ammonia. Policy initiatives including the National Green Hydrogen Mission (“NGHM”), and the Green Hydrogen Certification Scheme (“GHCI”) create a framework, while incentivizing investments in the sector by providing financial incentives and creating robust and transparent monitoring systems. Other key consideration for investors would be the ease of financing and longevity of business operations, dependent in part on the regulatory framework. The availability of low cost renewable energy and skilled workforce also show good promise to transform the country’s energy infrastructure and position it as an export hub for international trade. In this backdrop, investors are keenly looking at the landscape for GH2 in India to meet both financial and ESG goals.
