The Indian government has allocated ₹455 crore (approximately $57 million USD) to launch hydrogen-powered steel projects in the country. This initiative aims to reduce the steel industry’s carbon footprint and promote the use of clean energy. The project is part of India’s efforts to achieve its climate goals and transition towards a more sustainable and environmentally friendly economy.
The steel industry is one of the largest contributors to greenhouse gas emissions in India, accounting for around 12% of the country’s total emissions. The use of hydrogen as a fuel source is expected to significantly reduce these emissions, as it produces only water vapor and heat as byproducts when used in steel production.
The ₹455 crore allocation will be used to support the development of hydrogen-powered steel projects, including the creation of new hydrogen production facilities, the modification of existing steel plants to use hydrogen, and the development of new technologies to improve the efficiency of hydrogen use in steel production.
The Indian government has set a target of reducing the country’s carbon emissions by 33-35% by 2030, and the steel industry is expected to play a significant role in achieving this goal. The use of hydrogen-powered steel production is seen as a key strategy in reducing emissions from the industry, and the government is providing incentives and support to encourage the adoption of this technology.
Several Indian companies, including Tata Steel and JSW Steel, have already announced plans to transition to hydrogen-powered steel production. These companies are investing heavily in the development of new hydrogen production facilities and the modification of existing plants to use hydrogen.
The use of hydrogen-powered steel production is not only expected to reduce emissions but also to improve the efficiency and competitiveness of the Indian steel industry. Hydrogen-powered steel production is expected to reduce energy costs and improve the quality of steel produced, making Indian steel more competitive in the global market.
Overall, the Indian government’s allocation of ₹455 crore to launch hydrogen-powered steel projects is a significant step towards reducing the country’s carbon emissions and promoting the use of clean energy. The initiative is expected to have a positive impact on the environment, the steel industry, and the economy as a whole.