Reliance Industries To L&T: Goldman Sachs, Nomura List Potential Winners Of India’s Green Hydrogen Push

Reliance Industries Ltd., Larsen & Toubro Ltd. and Siemens Ltd. are likely to benefit the most from India’s attempt at lowering carbon emissions and meeting global targets, according to Goldman Sachs and Nomura.

India’s Power Ministry on Thursday released the Green Hydrogen policy, in line with the National Hydrogen Mission announced by Prime Minister Narendra Modi on Aug. 15 last year. The fuel is produced via electrolysis of water using renewable energy.

  • Interstate transmission charges waived for 25 years.
  • Renewable energy for green hydrogen/green ammonia production can be procured from anywhere; open access to be provided within 15 days.
  • Banking of unconsumed renewable energy for production of green hydrogen/ammonia allowed for up to 30 days.
  • Multiple avenues for procuring land for manufacturing.
  • Manufacturers will be allowed to set up bunkers near ports for storage.
  • The Ministry of New and Renewable Energy to set up a single portal for such projects.

These measures, according to Edelweiss, could make India the cheapest green hydrogen producer globally. “The country could, in effect, become the Middle East of green hydrogen.” But hydrogen, it said, is a tricky molecule to handle, especially from a transmission and export perspective. Hence, the government’s intention is to provide incentives and promote infrastructure first.

L&T, Nomura said, is “significantly ahead in terms of steps taken for green hydrogen and fuel cell manufacturing”, with its tie-up for electrolyser technology with HydrogenPro. The two are aiming to produce green hydrogen at the “lowest targeted cost of any manufacturer that has technology access in India”. The conglomerate has also tied up with ReNew Power Ltd. and Thermax Ltd. for green energy and fuel cell development, respectively.

https://www.bloombergquint.com/amp/business/ril-to-lt-goldman-sachs-nomura-list-top-bets-to-ride-on-indias-green-hydrogen-push

https://usnewsmail.com/economy/reliance-industries-to-lt-goldman-sachs-nomura-list-potential-winners-of-indias-green-hydrogen-push/