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Gujarat Will Soon Launch Policy For Green Hydrogen Promotion

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As the green energy revolution gathers traction, the Gujarat government intends to implement a special policy to encourage green hydrogen generation and its products.

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According to sources close to the process, the new policy, which intends to stimulate the dawning industries, would almost certainly be unveiled in the Vibrant Gujarat Global Summit (VGGS), which is going to start next month in the state’s capital.

“Gujarat wants to give financial subsidies or viability gap funding (VGF) for firms investing in green hydrogen, which is being touted as the future of energy,” a government person with knowledge of the matter said.

Kanubhai Desai, Gujarat’s finance and education minister, acknowledged the plans to implement a new green hydrogen energy strategy, citing energy generated from green hydrogen as the solution to climate change mitigation.

On August 15, Prime Minister Narendra Modi in his Independence Day speech emphasized the necessity of India’s transition to a hydrogen-based economy and announced the commencement of the National Hydrogen Mission. 

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As a result, many leading businesses have begun to make the necessary changeover in their operations. Reliance Industries Ltd, L&T, Adani Group, NTPC, IOC, and GAIL are among the firms that have begun work in this direction.

The government is expected to provide considerable capital incentives for R&D as well as human resource advantages.

A projected budget for the industry is also planned by the government.

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