Answer:
- Launched in January 2023 by the Ministry of New and Renewable Energy (MNRE) to make India a global hub for the production and export of green hydrogen (Initial outlay: ₹19,744 crore). The SIGHT (Strategic Interventions for Green Hydrogen Transition)
programme is its key component.
Key Objectives (Targets by 2030):
- Production Capacity: Development of at least 5 MMT (Million Metric Tonnes) per annum of green hydrogen production capacity.
- Renewable Energy: Addition of approximately 125 GW of associated renewable energy capacity in the country.
- Economy: Attracting over ₹8 lakh crore in total investments and generating more than 6 lakh new jobs.
Significance:
- Decarbonisation: Reducing carbon emissions in heavy industries such as refineries, fertilisers, and steel (abatement of nearly 50 MMT of annual GHG emissions).
- Energy Self-reliance: Strengthening national energy security by reducing dependence on fossil fuel (crude oil/gas) imports.
- Net-Zero Target: Aiding in the realization of India's pledge to achieve Net-Zero carbon emissions by the year 2070.