GH2, green ammonia to drive $125 billion investments in India by 2030: Avendus
Green hydrogen (GH2) and green ammonia segments are estimated to drive investments of $125 billion (about ₹10.43 lakh crore) in India by 2030, according to a report by investment banking firm Avendus Capital.
The report, titled 'Green Hydrogen, The Next Frontier In Energy Transition', said the growth would be driven by an increasing focus on sustainability, demonstrated commercial viability, ever-expanding use cases and a strong regulatory push.
GH2 is made by electrolysis of water, using power from renewable energy sources. It does not emit any greenhouse gases. Efforts are on globally to make green hydrogen the fuel that can help countries attain their net-zero emission targets.
«India is home to one of the cheapest renewable electricity costs globally, has abundant availability of fresh water and is emerging as a global manufacturing hub — three essential elements required for the production of green hydrogen at a competitive cost,» said Prateek Jhawar, managing director, Avendus Capital.
He said there is an emergence of the first set of serious standalone and integrated participants forging partnerships to aggregate capabilities and infrastructure to tap into GH2 derivatives.
«While the commercial and industrial business model for domestic consumption of green hydrogen will drive the first set of investments in the sector, the steel industry will form the largest share of off-take contracts in the near term with the imposition of the Carbon Border Adjustment Mechanism in the EU,» Jhawar said.
GH2 is being
