Green Hydrogen India Market Update Q1 2024 (Jan-Mar)
Summary
- Tenders: In the first quarter of 2024, the Solar Energy Corporation of India (SECI) took significant strides toward advancing India’s green hydrogen capabilities through a series of tenders, auctions, and regulatory efforts. SECI issued a major tender to develop 1,500 MW of electrolyser manufacturing capacity under the Strategic Interventions for Green Hydrogen Transition (SIGHT) scheme (Tranche-II). This initiative reflects a key effort to scale up green hydrogen production within India, facilitating the country’s transition toward cleaner energy solutions.
- Auction Completed: In Q1 2024, SECI concluded two auctions under the SIGHT scheme:
- The first auction focused on establishing 1,500 MW of electrolyser manufacturing facilities in India (Tranche-I, Component I). Electrolysers are central to the production of green hydrogen, splitting water into hydrogen and oxygen using renewable energy. Expanding domestic production capacity for electrolysers is a foundational step for India’s green hydrogen sector.
- The second auction, under Mode-1-Tranche-I, Component II, selected green hydrogen producers to establish production facilities with an aggregate annual capacity of 412,000 metric tons.
- Investments Announced: The key proposed investments were announced by various players during the first quarter of 2024.
- ReNew has proposed a total investment of INR 26,400 crore for a green hydrogen project with 0.22 Million Metric tons per annum (MMTPA) of green hydrogen production capacity in Karnataka.
- Acme Cleantech is making a substantial investment of INR 27,000 crore to establish a green hydrogen production in India with a capacity of 1.10 MMTPA.
- Green Energy Projects Commissioned in India: In Q1 CY2024, there were two Green Hydrogen projects commissioned in India:
- Larsen & Toubro (L&T) has commissioned its first domestically built electrolyzer with a capacity of 1 MW at the green hydrogen plant in Hazira, Gujarat, located at the AM Naik Heavy Engineering Complex.
- Jindal Stainless Steel (JSL) inaugurated its first green hydrogen plant in Hisar, Haryana. With this, JSL will become India’s first stainless steel company to install such kind of plant on a commercial scale.
- Policy and regulations: In this quarter eight central-level and two state-level
policy/notifications/regulations/orders were issued.