India H2 Monitor – October 2023

  • IH2A Launched H2 Equipment Manufacturing & Services report: India Hydrogen Alliance (IH2A) released ‘Hydrogen Equipment Manufacturing and Services’ report that estimates the addressable market for Indian-manufactured hydrogen equipment to be worth USD 45-50 bn by 2030. Read full report here.
  • IH2A Members Meet: IH2A Secretariat hosted its quarterly members’ meeting in Mumbai where the members and secretariat deliberated on key updates from the last quarter (Jul-Aug-Sep) and advocacy priorities for 2024.


  • India unveiled INR 400 crore R&D plan for green hydrogen: The New and Renewable Energy Ministry has launched the R&D roadmap for the National Green Hydrogen Mission, dedicating INR 400 crore to develop a research ecosystem for green hydrogen commercialization. The roadmap focuses on enhancing the efficiency, reliability, and cost-effectiveness of green hydrogen production, storage, and transportation. Link
  • India, Saudi tie up for grid, green hydrogen: India and Saudi Arabia have signed a memorandum of understanding (MoU) during the MENA Climate Week 2023. The MoU focuses on securing a green hydrogen supply chain and cooperation on power grid interconnection. It aims to establish a framework for cooperation in electrical interconnection, electricity exchange during peak times and emergencies, co-development of projects, co-production of green/clean hydrogen and renewable energy, and establishing secure supply chains for materials used in green/clean hydrogen and the renewable energy sector. India plans to interconnect the national power grids of both countries through a subsea cable. Link
  • Govt initiates talks on green hydrogen exports to EU nations: The Indian government is in discussions for exporting green hydrogen to several countries, including France, Italy, Germany, and others. These exports are under consideration as per Article 6.2 of the Paris Agreement, which allows for carbon credit transfers. The Bureau of Energy Efficiency has announced the Carbon Credit Trading Scheme 2023 and is formulating guidelines for it. India is open to transferring carbon credits to countries purchasing its green hydrogen. Link
  • REC will lend over $3.7 billion for Acme, Avaada projects in Odisha: REC Ltd, a non-banking finance company under the power ministry, signed memoranda of understanding (MoUs) totalling INR 31,000 crore (over $3.7 billion) to support and finance two green hydrogen projects in the Indian state of Odisha. REC will lend INR 16,000 crore to Acme Group and INR 15,000 crore for Avaada’s green hydrogen and ammonia facility in Gopalpur, Odisha. Link
  • India & Sweden to collaborate on green steel plants: India and Sweden are exploring partnerships on green steel-making with the scope that includes carrying out joint studies, small scale pilots and experiments with new technologies like switching to hydrogen-based steel making processes as against existing coal-fired ones. Link
  • India looks to green hydrogen for steelmaking: India’s steel demand has led to a shift in coking coal exports from China to India. With rising coal costs, Indian steel companies are considering price hikes and sourcing cheaper coal from Russia. India aims to use green hydrogen for 42% of steel production by 2050 and aims for zero coal usage in steel production by 2070. Link
  • Malaysia’s Petronas to invest $1.6bn in Indian green ammonia: Petronas, a company based in Malaysia, plans to invest $1.6 billion in an Indian green ammonia venture. The project’s goal is to produce 5 million tonnes of green ammonia annually until 2030, equivalent to about 1 MTPA of green hydrogen. This will contribute to 20% of India’s green hydrogen production target by 2030 or 10% of Europe’s renewable hydrogen import targets. The first shipments of green ammonia are expected to start by late 2025 and will cater to key OECD markets, including Germany, Japan, South Korea, and Singapore. Link
  • India's Adani Group to raise $4 bn to fund green hydrogen plans: India’s Adani Group is planning to raise up to $4 billion to fund its green hydrogen projects. One of the first projects to receive funding will be a green hydrogen facility in Gujarat, which has a capacity of 1 million metric tons per annum and is expected to start production in 2027. Link


  • US announces $7 Billion for clean hydrogen hubs: The Biden-Harris Administration has announced a $7 billion investment for the creation of America’s first clean hydrogen hubs. These seven hubs will form a national network supporting the production, storage, delivery, and use of clean hydrogen. They are expected to produce 3 million metric tons of hydrogen annually, contributing to nearly a third of the U.S. production target for 2030 and reducing emissions from hard-to-decarbonize industrial sectors. Link
  • EU and Namibia join forces for a green hydrogen future: The European Commission President Ursula von der Leyen and Namibian President Hage Geingob have endorsed a strategic partnership roadmap between the EU and Namibia. This collaboration, supported by a €1 billion investment, focuses on sustainable raw materials value chains and renewable hydrogen. The partnership will also support the development of the Port of Walvis Bay into a regional industrial and logistics hub. Link
  • Egypt and China collaborate on green hydrogen and renewable energy projects: The Egyptian government has signed a framework agreement with a subsidiary of state-owned China Energy Engineering Group, also known as Energy China, for a green hydrogen and ammonia plant in the Suez Canal Economic Zone worth $6.75bn. As per the Eygptian government, it has $83bn green hydrogen project pipeline which could yield millions tonnes per year of green ammonia and e-methane. Link
  • Malaysia, Singapore mulling hydrogen pipeline: City Energy and Malaysia’s Gentari have signed a joint feasibility study agreement to construct a hydrogen pipeline from Malaysia to Singapore. City Energy, the exclusive supplier of piped town gas in Singapore, along with Gentari, a clean energy solutions provider owned by Petronas, will launch a 12-month feasibility study. Link
  • Australia opens $2 billion tender to support green hydrogen projects: The Australian federal government has launched a $2 billion hydrogen head-start program, the largest funding initiative for renewable hydrogen in Australia. Managed by the Australian Renewable Energy Agency (ARENA), the program aims to support three major green hydrogen projects, bridging the cost gap between renewable hydrogen and fossil fuel-produced hydrogen. Support will be in the form of production credits payable over ten years from 2026/27, and projects must include a minimum 50MW electrolyser and use 100% renewable power. Link
  • South Africa's climate grant funding from rich nations doubles: South Africa has secured $676 million in grants from wealthy nations to support its transition to green energy. This amount is more than double the initial grant promised but represents only a fraction of the total funding package, most of which South Africa will need to repay with interest. The total cost of South Africa’s transition from coal, which currently generates 80% of its power and a third of its liquid fuel, is estimated at 1.5 trillion rand ($78.44 billion). Link
  • Companies Clash Over Billions of Dollars in Hydrogen Tax Breaks: The Biden administration is deciding which energy sources can qualify for tax credits in the Inflation Reduction Act, with a focus on clean hydrogen production. Companies like Nextera Energy, Constellation Energy, and Plug Power argue that even carbon-emitting companies should have access to these subsidies. However, companies like Air Products & Chemicals and environmental groups believe that subsidies should be exclusively for businesses using renewable energy. Link