Uttar Pradesh Government Approves Green Hydrogen Policy
Announced during a cabinet meeting, the initiative sets forth goals, to produce one million metric tonnes of green hydrogen annually by 2028.
March 22, 2024. By Abha Rustagi
Announced during a recent cabinet meeting, the initiative sets forth goals, to produce one million metric tonnes of green hydrogen annually by 2028.
Energy Minister A.K. Sharma emphasized the government's commitment to promoting a green economy through this policy. "Our goal is to pave the way for a sustainable future, and the adoption of green hydrogen production methods is a crucial step in this direction," Sharma stated.
To incentivize the establishment of green hydrogen industries within the state, the government has introduced a comprehensive range of incentives and subsidies worth INR 5,045 crore. These incentives are designed to attract businesses to set up operations within Uttar Pradesh over the next five years.
Among the benefits offered are capital expenditure subsidies ranging from 10 percent to 40 percent for the first five industries venturing into green hydrogen production. Additionally, businesses will enjoy a 100 percent rebate on intrastate electricity charges and exemptions on transmission charges for interstate transactions. Furthermore, there will be a complete waiver of electricity duty to further stimulate industry growth.
The cabinet has also approved the construction of two 800 MW power units in Anpara, Sonbhadra district, in collaboration with the National Thermal Power Corporation (NTPC). The estimated cost of this project stands at INR 8,624 crore. This joint venture between the Uttar Pradesh government and NTPC will follow a financial model comprising 30 percent equity and 70 percent loan financing. The location near the Northern Coalfields Ltd. (NCL) ensures convenient access to coal for cost-effective electricity production.
please contact: contact@energetica-india.net.
Brathaban Karuppaiah
Country General Manager
From Oil to Renewables: SBM Offshore’s Vision for India’s Evolving Energy Market
Anvesha Thakker
Partner, Business Consulting & National Industry Lead – Clean Energy
Heat Pumps and Thermal Batteries: Game-Changing Technologies for Industrial Decarbonisation
Kamlesh Kaushik
Co-Founder and CEO
Building A Robust EV Charging Infrastructure: Mufin Green Infra’s Approach
Manjunath Athrey
Head of Engineering
Yulu Revamping Shared Mobility with Its Homegrown Software Stack
Vishal Gupta
Co-Founder and Chief Technical Officer
Maxvolt Energy Leads Charge with Eco Series Batteries for EVs