Green Gold Rush: India's $2 Billion Hydrogen Plan Draws Giants

18 Dec 2023 CW Team

India's ambitious green hydrogen plan, backed by a generous $2 billion incentive program, has sparked a frenzied bidding war, attracting an array of major industrial players. Reliance Industries, JSW Energy, Torrent Power, and Bharat Petroleum are among the 14 companies vying for lucrative green hydrogen production contracts, according to the Solar Energy Corp of India (SECI).

But the competition heats up even further when it comes to electrolyzer manufacturing, the crucial technology behind green hydrogen production. A whopping 20 companies, including industry giants like Adani Group, Jindal India, Larsen & Toubro, and Bharat Heavy Electricals, have thrown their hats in the ring for electrolyzer manufacturing incentives. Bids for a massive 3.4 GW of electrolyzer capacity were received, exceeding the initial invitation of 1.5 GW, showcasing an overwhelming industry enthusiasm.

This fervent response bodes well for India's ambitious target of reaching 5 million tons of annual green hydrogen production capacity by 2030. With industry heavyweights like Acme Cleantech, Sembcorp Green Hydrogen, CESC, Greenko ZeroC, and Avaada GreenH2 competing for green hydrogen production contracts, the country is poised to witness a significant acceleration in this clean energy frontier.

Further adding to the excitement, companies like Waaree Energies, Ohmium Operations, Advait Infratech, and Acme Cleantech Solutions are vying for a slice of the lucrative electrolyzer manufacturing pie. This surge of interest indicates a burgeoning domestic electrolyzer manufacturing ecosystem, a critical step towards self-sufficiency in this nascent sector.

With the bidding process concluded, eyes now turn to SECI's evaluation and award of the coveted contracts. The chosen champions will have the responsibility of not just delivering on the immediate project goals but also paving the way for India's green hydrogen revolution, propelling the country towards a cleaner and more sustainable future.

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