India allocates more than two billion dollars for the production of green hydrogen
The Indian government has agreed to provide 179.9 billion rupees ($2.15 billion) to finance a program to stimulate the production of clean hydrogen, The Economic Times reported on Friday.
According to the newspaper, the implementation period of the new program is five years, it provides for a large-scale expansion of the clean hydrogen production industry and is aimed at reducing the cost of its production in the country by 20%.
Currently, the average production cost of this low-carbon material in India is 300-400 rupees ($4-5) per kg.
The program will also reduce greenhouse gas emissions into the atmosphere with the goal of achieving zero carbon emissions by 2070.
Green hydrogen is produced by electrolysis of water using renewable energy sources.
In recent years, some countries have begun to view it as an important tool for diversifying energy supplies and gradually achieving carbon neutrality.
In an earlier period, it was expected that the world demand for hydrogen by 2030 would reach 130 million tons, and by 2050 it would exceed 600 million tons.