Charting a Sustainable Path: Multifaceted Efforts on Renewable Energy, Carbon Offsetting and Impact Reporting

India’s energy needs are growing and the country is committed to a sustainable energy future, with green hydrogen gaining attention as an opportunity to meet diverse energy requirements while reducing carbon footprint. The Government of India has initiated a National Green Hydrogen Mission with the goal of making India a global hub for the production, use and export of green hydrogen by 2030. This ambitious initiative has significant implications for the country’s energy landscape and it is critical to understand the roles and strategies of various stakeholders in driving this transformation.

State governments are taking the lead: developing regional green hydrogen hubs

The emphasis on sub-national roles and strategies is one of the main elements of the Green Hydrogen Mission. The development of regional Green Hydrogen Centers is expected to play a significant role for state and local governments. These centers will serve as centers of excellence supporting innovation, research and development in the field of green hydrogen. By leveraging their unique strengths and resources, countries can create an ecosystem conducive to the production, storage and distribution of green hydrogen.

Private sector initiatives: Promoting the adoption of green hydrogen

The private sector also has a key role to play in the success of the Green Hydrogen Mission. Companies across sectors such as power generation and mobility are exploring ways to incorporate green hydrogen into their operations. A key factor influencing its use will be the availability of affordable and reliable green hydrogen. Investment in research and development, as well as establishing a robust supply chain, will be essential to reduce costs and ensure the scalability of green hydrogen projects.

Advait Infratech is one of the companies that has demonstrated a high level of profitability in the green energy sector. The company reported a 139.10% year-on-year increase in profit after tax (PAT) for the quarter ended March 2024. Apart from this, Advait also won the SECI Electrolyser Manufacturing Tranche I tender and acquired 100 MW earlier in this deal. The growth potential of the energy sector, as well as the opportunities for companies that can adapt to green energy markets, are highlighted by good financial results.

Meeting the challenges: a collaborative approach

India’s path to a green hydrogen future must address the challenges and obstacles that may arise. The availability of skilled labor is one of the main challenges. To ensure that employees have the appropriate knowledge and skills to work with this new technology, the Green Hydrogen Mission will require significant investment in education and training. To develop the necessary talent pool, collaboration between industry, academia and government will be key.

Supportive policy frameworks: the key to success

One of the challenges is also the need for a supportive policy and legal framework. However, consistent national policies providing clarity on issues such as pricing, taxes and incentives will be important to attract investment and encourage the use of green hydrogen, although many countries have introduced policies to encourage the use of green hydrogen. The government should also consider introducing measures to encourage the use of green hydrogen in various sectors such as transport and industrial processes.

Conclusion: India’s Sustainable Future

An important opportunity for India to move towards a sustainable energy future is the National Green Hydrogen Mission. India can build a thriving green hydrogen ecosystem that drives innovation, generates jobs and reduces carbon emissions through the synergy of state governments, private industry and workers. However, addressing the challenges and obstacles that may arise, and working towards a collaborative and coordinated approach involving all stakeholders, is crucial to achieving this vision. India can become a global leader in the green hydrogen revolution with the right strategies and investments, setting an example for other countries to follow.

The author of the article is the head of Advait Infratech Ltd – a company dealing with sustainable development, Avantika Gupta.