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Five Indian companies leading the green hydrogen revolution
Move over electric vehicles, green hydrogen is here!
The environment friendly gas has recently caught the fancy of some of the largest firms and governments around the world as they try to pivot to a more sustainable source of energy.
Why, you might ask?
As one of the cleanest forms of energy in the world, green hydrogen is one of the ultimate solutions to achieve net-zero emissions. The gas is produced with the help of electrolysis through electricity generated from renewable sources of energy such as solar and wind.
With electrolysis, all you need to produce large amounts of hydrogen is water, a big electrolyser, and electricity. An electric current then splits the water into hydrogen and oxygen.
This ensures no greenhouse gas emissions as the only by product of this process is oxygen, making it a great replacement for carbon emitting fuels. At present, the country’s entire production of hydrogen comes from fossil fuels. However, by 2050, three-fourth of all hydrogen is projected to be green.
The US has invested $150 m in hydrogen fuel infrastructure and development every year since 2017. Governmental bodies in Europe and Asia are also investing more than $2 bn annually in hydrogen fuel production.
In fact, China has committed over US$217 bn of investment in hydrogen-powered transportation until 2023. The Indian government is not far behind. As green power takes precedence in the global scheme of things, the Indian government has already kick-started its green hydrogen journey.
On 15 August 2021, Prime Minister Narendra Modi, flagged the launch of a National Hydrogen Mission and announced his decision to transform India into a global hub for green hydrogen production and export. As a result, companies in India have started making the switch.
Reliance Industries Ltd (RIL), the largest private sector oil and gas company in the country, plans to go green. The company recently announced its plans to become a net carbon-zero firm by 2035. It aims to replace transportation fuels with clean electricity and hydrogen.
The conglomerate said it will invest ₹750 bn over the next three years in renewable energy. Out of this, it will invest ₹600 bn in a 5,000-acre, green energy integrated complex called Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, Gujarat. The complex will include manufacturing units for solar cells and modules, a battery unit for energy storage, a fuel cell-making factory, and an electrolyser plant to produce green hydrogen.
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