- Mr. AK Tyagi, Founder, Chairman & Managing Director of Nuberg Engineering Ltd.
As we approach Union Budget 2024-25, Nuberg EPC welcomes and commends the government’s visionary approach towards accelerating India’s shift to Green Hydrogen. This strategy demonstrates India’s commitment to sustainable energy solutions that would position our country as a world leader in renewable technologies.
Green Hydrogen is integral to minimizing carbon footprints across sectors like transport and manufacturing, ensuring power autonomy through renewable sources of energy such as sun and wind.
The recent Rs 600 crore budget increase for the National Green Hydrogen Mission to scale production to 5 million metric tonnes annually by 2030, supported by over ₹8 lakh crore in renewable energy infrastructure investments was a good step. This initiative is expected to create 600,000 jobs, decrease fossil fuel dependence, and cut greenhouse gas emissions by nearly 50 million metric tonnes annually.
However, challenges abound on this transformative journey. Advancing technology in electrolysis, developing robust storage and distribution networks, and streamlining regulatory frameworks are critical imperatives that demand immediate attention. Additionally, reducing GST and import duties on essential equipment will be crucial to enhancing cost-effectiveness and competitiveness in the global market.
Beyond advancing technology and building infrastructure, a critical challenge for scaling the Green Hydrogen sector is the shortage of skilled manpower proficient in areas like electrolysis, hydrogen storage, and energy grid integration. Addressing this gap requires bolstering vocational training and educational programs focused on renewable energy and hydrogen technologies. By investing in human capital development alongside technological progress, India can cultivate a skilled workforce essential for innovation and sustained growth in the Green Hydrogen industry.
We recommend that to hasten progress and move towards sustainability, resources should be invested in research and development (R&D) for advanced electrolysis technologies while creating public-private partnerships that promote innovation and scalability. Our pioneering role in setting up India’s First Commercial-Scale Hydrogen Fuelling Station for IOCL followed by numerous other Hydrogen initiatives in the country makes us anticipant of India’s hydrogen future.
Our objective is to make India greener with Green Hydrogen by working alongside governments and industries. The budget must propose significant measures that can help achieve this energy independence, reduce environmental impacts, and create a resilient energy system for future generations in a double-quick time frame.
