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Maharashtra Government Signs Green Hydrogen MoUs Worth $33 Billion For Seven Projects

Last Updated on 25th June 2024

The Maharashtra government signed MOUs with seven companies for green hydrogen production. Maharashtra Chief Minister Eknath Shinde stated that the investment value is estimated to be around USD 33 billion (INR 2.76 lakh crore). He also mentioned that the projects will generate around 60,000–70,000 employment opportunities.


Maharashtra Government Signs Green Hydrogen MoUs Worth $33 Billion For Seven Projects


The companies executing the projects include NTPC Green Energy, Avada Green Hydrogen, Renew E-Fuels, Inox Air Products, L&T Green Tech, JSW Green Hydrogen, and Welspun Godavari GH2. Furthermore, these seven projects will have a total production capacity of 910 kilotonnes per year. The production facilities will produce 4732 KTPA of green ammonia.


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Maharashtra emerges as a frontrunner in the green hydrogen race, having already launched its hydrogen policy in July 2023. This proactive approach positions the state to attract talent, infrastructure, and investments in this new domain. The government aims to produce 500 KTPA by 2030. The government has proposed a slew of incentives for the developers of green hydrogen.


This move aligns with the Indian government's National Hydrogen Mission, which aims to make India a global leader in green hydrogen production and utilization.


Read: ReNew Plans to Invest $3 Billion to Develop a Green Hydrogen Project in Kerala


Maharashtra's Green Hydrogen Market: Emerging Powerhouse


Maharashtra Government Signs Green Hydrogen MoUs Worth $33 Billion For Seven Projects


Maharashtra, India's second-most populous state, is rapidly carving out a significant niche in the burgeoning green hydrogen market. The state is well-positioned to become a major producer and consumer of this clean fuel, thanks to ambitious government policies, sizable investments, and a supportive regulatory environment.


The Maharashtra Green Hydrogen Policy 2023 offers a slew of incentives to attract investments, including land allotments, financial subsidies, and green hydrogen purchase obligations for certain industries. This policy framework provides much-needed clarity and direction for potential players.


Read: Global Green Hydrogen Market 


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