NTPC Green Energy Ltd., a subsidiary of NTPC Ltd., India’s largest thermal power producer, is spearheading the development of a green hydrogen hub at Pudimadaka, near Visakhapatnam in Andhra Pradesh. This ambitious project is India’s first initiative under the National Green Hydrogen Mission.
Prime Minister Narendra Modi is set to lay the foundation stone for this project on January 8, marking a significant step towards India’s commitment to carbon-free energy.
The share price of NTPC Green Energy is trading lower by 0.21% as of 12:41 pm on 7 January 2025.
Green hydrogen is produced by splitting hydrogen and oxygen atoms in water using renewable energy sources. It offers a sustainable alternative to conventional fuels, especially for industries that are challenging to decarbonise, such as refineries, steel mills, and fertilisers.
India aims to ramp up its green hydrogen production to 5 million tonnes annually by 2030. This initiative is part of a larger strategy to reduce dependence on fossil fuels and position India as a global supplier of clean energy.
The NTPC project involves a massive investment of ₹ 1.8 trillion, including the development of 20 gigawatts of renewable energy capacity. Once operational, the site will produce:
These derivatives are expected to cater mainly to the export markets, targeting regions such as Europe and Asia.
Pudimadaka, originally designated for an imported coal-fired power station, is undergoing a transformation into a clean energy hub. This shift reflects NTPC’s strategic focus on renewable energy and reducing its carbon footprint.
While green hydrogen presents immense potential, adoption is slowed by high production costs. Indian firms are targeting export markets with favourable pricing structures to address this challenge. Domestically, industries are expected to adapt as production scales up and costs decrease.
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Published on: Jan 7, 2025, 2:50 PM IST
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