It seems like India is about to trade its chai for hydrogen power! Move over, oil—there’s a new fuel in town, and India is ready to lead the way.
The era of Arab oil dominance is on the decline as India sets its sights on becoming a global superpower in green hydrogen energy. But it’s not just about producing this clean fuel; India has grand ambitions to consume, utilize, and even export it. The race is already underway, with Saudi Arabia and approximately 30 other nations investing in green hydrogen projects. However, there’s a catch—the countries that can produce the cheapest green hydrogen will be the ultimate winners in this competition.
The cost of producing green hydrogen currently stands at around $6-7 per kilo, which is not yet economically viable. However, efforts are underway worldwide to bring down the costs. With abundant renewable capacity and falling solar power prices, India is well-positioned to produce green hydrogen at lower costs.
Top Indian businessman Mukesh Ambani believes India can bring the production cost down to $1 per kilo just within a decade.
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