Context:
Invest UP to sign a Memorandum of Understanding (MoU) with Japan for the Green Hydrogen Project.
More on News:
- A delegation from Invest UP, headed by the Chief Minister’s Advisor, will visit Yamaguchi city in Japan.
- Work is being carried out on the Green Hydrogen Project in Yamaguchi, where the Yamaguchi Refining Complex is being transformed into a carbon-free energy hub under this initiative.
- A delegation including the CEO of Invest UP, along with officials from Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) and Power Corporation, will visit Japan on July 25 to study and sign MoUs related to the Green Hydrogen Project.
- Japan is actively working on using green hydrogen in sectors like energy, transportation, and various industries.
- The visit is considered very important for implementing the Green Hydrogen Project in Uttar Pradesh.
- A roundtable conference will be held with companies working on green hydrogen projects in Yamaguchi, Japan.
- These companies will also be offered investment opportunities in Uttar Pradesh during the visit.
- Uttar Pradesh has attracted private investment proposals worth nearly ₹1.15 trillion in the green hydrogen sector, significantly advancing the state’s clean energy agenda.
- Seventeen companies have submitted proposals that are expected to create around 20,000 jobs.
- Among the prominent investors, UK-based Trafalgar Square Capital plans to set up a green hydrogen production facility with a capacity of 10,000 tonnes per annum near Lucknow.
- Textile major Welspun Group aims to invest ₹40,000 crore in establishing a green hydrogen or ammonia plant in Bulandshahr.
- Hygenco Green Energies has proposed a ₹16,000 crore investment to build a 0.2 million-tonne green hydrogen facility in Prayagraj.
- The UP government has set an ambitious target of producing 1 million tonnes of green hydrogen or green ammonia annually by 2029.
- The Director of the UP New & Renewable Energy Development Agency, highlighted that as the world faces the growing challenges of climate change and seeks sustainable energy solutions, green hydrogen has emerged as a promising alternative.
- Green hydrogen and ammonia are produced through the electrolysis of water using renewable energy or stored renewable energy sources.
- Under the UP Green Hydrogen Policy 2024, the state government has introduced a series of administrative and financial incentives to promote green hydrogen and ammonia production, support market development, and encourage demand aggregation.
- The government’s initial strategy is to deploy green hydrogen in nitrogen-based fertilisers and the refinery sectors.
- The government will expand its applications to other industries, in line with the objectives of the National Green Hydrogen Mission.
- The state aims to reduce the cost of green hydrogen production by encouraging research and innovation in production and consumption technologies.
