India is planning to provide a $2 billion incentive to encourage the development of the green hydrogen industry, according to sources. Green hydrogen is produced through the electrolysis of water, using renewable energy sources such as solar or wind power. It is considered a cleaner alternative to traditional hydrogen, which is typically produced from fossil fuels such as natural gas.
The Indian government is reportedly seeking to establish the country as a major player in the green hydrogen market, which is expected to grow significantly in the coming years as countries look for ways to reduce their carbon emissions. The $2 billion incentive will be used to support the development of green hydrogen production, storage, and distribution infrastructure, as well as research and development.
The incentive is part of a larger effort by the Indian government to promote the use of clean energy and reduce the country's reliance on fossil fuels. India is one of the world's largest producers of solar power, and the government has set ambitious targets for the expansion of solar and other renewable energy sources. The green hydrogen industry is seen as a key part of this effort, as hydrogen has the potential to serve as a clean, versatile, and easily transportable energy source.