The Report charts the possible growth of the green hydrogen ecosystem in India. It isolates import substitution as driven of demand from traditional uses, while new uses will depend on lower carbon and costs. A pathway is charted through which the green gap (difference in price between grey and green hydrogen) can be addressed. Summarising developments in the SIGHT scheme, the Report says that interest remains high. The Report concludes with a project level analysis based on key success factors – presence of cheap electricity, electrolyser technology, demand tie-ups, and quantum of incentive. Vertically integrated players with access to low-cost financing are best positioned for success, while smaller, pure-play operators lacking offtake agreements face significant viability risks.
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