India unveils an ambitious plan of green hydrogen production

Hydrogen is probably the strategic energy commodity of the future. The biggest problem so far has been getting it. States are therefore looking at how to produce it in a meaningful and, most importantly, environmentally friendly way. India has unveiled a plan to produce green hydrogen on a large scale.

India wants to produce up to five million tons of so-called green hydrogen by 2030. It is a gas that is produced using renewable energy sources. Most importantly, the carbon balance is positive in terms of climate protection in its production.

For this purpose, the government will set up separate production zones where no inter-state transmission charges will be levied for the next 25 years and provide grid connectivity to companies producing green hydrogen. India’s Federal Ministry of Energy wants to stimulate gas production in this way.

“The production of green hydrogen is currently very expensive, and the government is aware of this. It has rightly waived transmission charges and prepared other incentives,” Mayank Bansal, head of renewable energy company ReNew Power, told Reuters.

India’s plan to produce five million tons of hydrogen by 2030 is half the target of the European Union.

author avatar
EditorialTeam
The Trader-Magazine.com EditorialTeam is a collective of certified financial analysts, active traders, and cryptocurrency experts. Our mission is to transform complex market data (forex, equities, indices) into accessible financial education. All content undergoes rigorous, multi-level fact-checking to ensure we deliver only accurate, objective information for your trading and investment decisions.

Top 10 financial instruments for 2022. What will their prospects be in 2023?

The year 2022 has brought countless surprises and obstacles...

Telegram scams: how they work and how to protect yourself

Telegram has become one of the most widely used...

Trump Saved TikTok from a Ban. The App in the U.S. Moves into American Hands

TikTok narrowly avoided a ban in the United States...

Gulf Brokers Ltd. Review

Comparing spreads, commissions, trading platforms, rules and reading dozens...

Climate Change Poses Major Risks to Financial Markets, Regulator Warns

WASHINGTON — A top financial regulator is opening a...

Sephora Stock & LVMH Investment Guide: Is Sephora Publicly Traded?

Sephora is one of the world’s most recognisable beauty...

Japan and US jointly intervene to support yen for first time in 15 years

Japan and the United States carried out a coordinated...

VUG Stock Split: What Vanguard’s 6-for-1 Split Means for Investors

Investors searching for information about the VUG stock split may have...

Dollar, Pound, and Franc: How USD to GBP and Interest Rate Differentials Drive Currency Flows

The relationship between the US dollar, British pound and...

AFP: Developers are testing ways to communicate with books using AI

More and more start-ups and digital publishers are offering...
spot_img

spot_imgspot_img