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AP National Business

India approves $2.3 billion to develop green hydrogen

KIFI
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Published 4:41 AM

By SIBI ARASU
Associated Press

BENGALURU, India (AP) — Marking its biggest effort yet to make India a global hub for production, use and export of hydrogen, the Indian federal government approved $2.3 billion funding with an aim to grow various segments of the green hydrogen sector in India. Green hydrogen is hydrogen that is produced through the electrolysis of water, powered by electricity generated from renewable sources of energy. Most of the world’s hydrogen is produced using fossil fuels, especially natural gas. By the end of this decade, India aims to establish a green hydrogen production capacity of at least 5 million metric tons, creating over half a million new jobs and reducing imports of oil and gas.

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