Green Hydrogen

What
  • India's dependence on fossil fuel imports for its energy needs has been a concern, carrying significant economic and geopolitical implications. Indian government believes green hydrogen as a key opportunity to substantially reduce this dependency
  • Government has launched National Hydrogen Mission to establish India as a global hub for green hydrogen. Under the mission, India aims to develop a green hydrogen production capacity of at least 5 MMTPA by 2030
  • Leading Indian conglomerates including Reliance Industries, Adani Enterprise, Thermax, L&T etc. have announced significant investments and are in the process of setting-up GW scale electrolyser manufacturing facilities

How
  • As part of the mission, the government has approved an initial outlay of USD 2.4 billion to incentivize companies to manufacture electrolysers and produce green hydrogen
  • Eight companies have been awarded subsidies of up to USD 0.60 per kilogram of green hydrogen produced, while another eight companies will receive subsidies of up to USD 55 per kilowatt of electrolyser capacity sold
  • Indian companies have planned projects totalling over 20 GW of electrolyser manufacturing and are actively seeking technologies to enhance their capabilities
  • This presents an opportunity to showcase capabilities and position Swedish companies as reliable partners

Call to action 
  • Business Sweden has established “India-Sweden Green Hydrogen Cluster”, a platform to enable Swedish companies to showcase capabilities and use-cases
  • In Phase I of the cluster, workshops with seven leading Indian green hydrogen companies led to over 25 collaboration opportunities for participating Swedish companies
  • Phase II of the cluster will focus on an additional Southeast Asian market alongside India, to be mutually decided with the participating Swedish companies
  • Dedicated technical sales workshops are planned for Q3/Q4 2024 with 3-4 leading green hydrogen companies each in India and one additional market from the SEA region

For more information, please reach out to naman.sethi@business-sweden.se