NEWS – MNRE launches SIGHT scheme to incentivise production of green hydrogen

SIGHT

• Acronym – Strategic Interventions for Green Hydrogen Transition
• Aim – Bolster domestic electrolyser manufacturing and green hydrogen production
• Depending on the markets and technology development, specific incentive schemes and programmes will continue to evolve as the Mission progresses
• Nodal ministry – Union Ministry of New and Renewable Energy (MNRE)
• Implementing agency – The Solar Energy Corporation of India (SECI)

NATIONAL GREEN HYDROGEN MISSION

• For the year 2023–24 to 2029–30
• Aim – make India a global hub for the production, usage, and export of Green Hydrogen and its derivatives
• Outcomes : India’s Green Hydrogen production capacity is likely to reach 5 MMT per annum + reduce a cumulative ₹ 1 lakh crore worth of fossil fuel imports by 2030 + leverage over ₹8 lakh crore in total investments and create over 6 lakh jobs
• Nearly 50 MMT per annum of CO2 emissions are expected to be averted through the production and use of the targeted quantum of Green Hydrogen
• The Mission provides allocations for various sub-components of the Mission such as SIGHT, Pilot projects, R&D etc. to fund specific selected projects
• There is no State-wise allocation made under the Mission