Advait Infratech Limited announced that it expects to receive INR 823.00072 million in funding from RBA Finance and Investment Company and other investors
Advait Infratech Limited expects to receive INR 823 crore in funding to support its growth and expansion plans, enhancing its financial capabilities and strategic initiatives. Advait Infratech Limited announced a private placement of 592,940 equity shares of face value of INR 10 each at a price of INR 1,388 per share for gross proceeds INR 823,000,720 on May 30, 2024. The transaction includes participation from Ashish Rameshchandra Kacholia, Ashish Rathi, Abhijit Nripen Kumar Mukharjee and RBA Finance & Investment Co. The transaction is subject to approval of shareholders and was approved by board of directors.
Advait Infratech Limited announces strong financial performance and secures funding INR 82.3 Cr
Advait Infratech Limited has announced strong financial performance for the quarter ended March 2024, with a 139.10% year-over-year increase in Profit After Tax (PAT) and secured funding of INR 82.3 crore. Advait Infratech Limited is delighted to share its robust financial results for the quarter ending March 31, 2024. The company has demonstrated exceptional growth in its key financial metrics, reflecting its strong operational efficiency and market position. FUNDRAISE: BoD has considered and approved the issuance of 5.9L shares at INR 1388/share, aggregating to INR 82.3 Cr. on a private placement basis, subscribed by Ashish Kacholia, RBA Finance & Investment and others. FINANCIAL PERFORMANCE: For the quarter, Advait Infratech reported standalone net sales of INR 59.71 crore, a remarkable increase of 31.93% compared to INR 40.64 crore in the same quarter last year. This significant rise in sales under the company’s ability to capture market opportunities and deliver value to its stakeholders. Whereas, there is phenomenal growth in Year-End Sales by 101%, reporting to INR 209.92 crore sales for FY 2023-24. Moreover, the quarterly net profit surged to INR 7.16 crore, marking an extraordinary growth of 90.82% from INR 3.74 crore in the corresponding period of the previous year. At the same time, PAT has increased from INR 10 Cr to INR 21.33 Cr for FY 23-24. This impressive increase in profitability highlights Advait Infratech’s effective cost management and strategic execution. The company’s EBITDA also saw a substantial rise. For the quarter, EBITDA reached INR 12.20 crore, up 82.52% from INR 6.68 crore in the previous year. This growth in EBITDA indicates a solid underlying business performance and a strong capability to generate cash flows. DIVIDEND DECLARATION: In addition to the strong financial performance, the Board of Directors has recommended a final dividend of INR 1.5 per share. This recommendation is subject to shareholder approval at the upcoming Annual General Meeting. The proposed dividend reflects the company’s commitment to rewarding its shareholders and sharing the benefits of its growth. Mr. Shalin Sheth, Founder and Managing Director of Advait Infratech Limited, commented, “Our exceptional financial performance this year highlights our strategic focus and operational efficiency. We remain committed to delivering sustainable growth and value to our shareholders. About Advait Infratech Established in 2009, Advait Infratech delivers robust products and solutions for power transmission, substation, and telecommunication infrastructure. Operations cover turnkey telecommunication projects, power transmission and substation equipment installation, liasoning, marketing, and end-to-end solutions. Engaging in manufacturing and supplying essential power transmission products, including stringing tools, OPGW, OFC cables, ACS, ERS, and OPGW joint boxes, Advait expanded into Green Hydrogen Equipment Manufacturing Services & EPC in 2023. Additionally, the focus includes sustainability consultancy, decarbonisation consultancy, and carbon consultancy services, aiming to enhance the market landscape with cost-efficient, eco-friendly solutions.
Advait Infratech Reports Impressive Financial Results for Q1 2024, PAT Up by 139.10%
Advait Infratech, a smallcap power company, reported impressive Q1 2024 financial results with a 139.10% year-over-year increase in Profit After Tax (PAT) and positive trends in key areas like net sales growth, indicating strong financial performance Advait Infratech, a smallcap company in the power industry, has recently announced its financial results for the quarter ended March 2024. The company has shown a very positive performance in this quarter, with a score of 20 compared to 14 in the previous quarter. One of the key highlights of the financial results is the significant growth in Profit After Tax (PAT) for the half-yearly period, which has increased by 139.10% year on year. This trend is expected to continue in the near future, as the company has also shown a positive growth in Profit Before Tax (PBT) for the quarter, with a growth rate of 53.1% over the average PBT of the previous four quarters. Moreover, the company has already surpassed its PAT for the previous twelve months in just half a year, indicating a strong financial performance. The net sales for the quarter have also shown a positive growth of 25.8% over the average net sales of the previous four quarters. However, there are some areas that need improvement, as seen in the financial results. The interest cost for the half-yearly period has increased by 66.54%, indicating a rise in borrowings. Additionally, the non-operating income for the quarter is at its highest in the last five quarters, which may not be sustainable in the long run. Overall, Advait Infratech has shown a strong financial performance in the quarter ended March 2024, with positive trends in key areas. Investors are advised to hold their stocks, as recommended by MarketsMOJO.
Fueling the Future: How Indian States are Pioneering the Green Hydrogen Revolution
Indian states are leading the Green Hydrogen revolution by implementing supportive policies, attracting investments, and developing robust ecosystems to promote the production and usage of Green Hydrogen as a sustainable energy solution. As countries worldwide strive to mitigate climate change and achieve carbon neutrality, India is setting a bold precedent with its commitment to Green Hydrogen. This article explores how various Indian states are pioneering efforts in the Green Hydrogen revolution, highlighting key policies, advancements, and the potential impact of these initiatives on sustainable development. Understanding Green Hydrogen landscape in India India stands on the cusp of an energy revolution, with Green Hydrogen set to play a crucial role in its sustainable future. Green Hydrogen is created by splitting water into hydrogen and oxygen using renewable energy sources such as solar and wind, providing a clean, carbon-neutral substitute for traditional fossil fuels. With an estimated solar potential of about 750 GW and a wind potential of around 302 GW, India possesses abundant renewable resources that serve as a solid foundation for this burgeoning industry. The Thar Desert in Rajasthan, due to its extensive solar capacity, is an ideal site for large-scale solar projects integral to Green Hydrogen production. According to the International Renewable Energy Agency (IRENA), hydrogen could account for up to 12% of global energy consumption by 2050, potentially preventing six gigatonnes of CO2 emissions each year. This shift aligns with international climate objectives and positions India as a leader in the global green energy transition. Diverse Applications of Hydrogen: A Catalyst for Sustainable Solutions Hydrogen fuel cells find applications across multiple sectors, offering a versatile and environmentally friendly energy solution. Hydrogen-powered trains, buses, and select passenger vehicles are increasingly prevalent in transportation. Cities like Delhi are testing the use of hydrogen-powered buses to combat urban air pollution. In heavy industries such as steel and cement manufacturing, Green Hydrogen is seen as a cleaner alternative to fossil fuels. For the global steel industry, which contributes 7-9% of direct fossil fuel emissions, Green Hydrogen represents a significant opportunity to reduce environmental impacts. The fertilizer industry also presents a substantial market for Green Hydrogen, traditionally reliant on hydrogen in its production processes. Hydrogen’s flexibility extends to electricity generation, where it can be used in gas turbines or fuel cells. This adaptability offers utilities transformative potential to decarbonize their energy mixes. Additionally, blending hydrogen with natural gas is reducing carbon emissions from residential and commercial heating systems. This integration illustrates practical solutions to environmental concerns in daily energy usage, demonstrating hydrogen’s broad applicability in transportation, manufacturing, energy production, and heating systems, underpinning its role as a key driver of sustainable solutions. India’s Ambitious Leap into Green Hydrogen: Unveiling the National Green Hydrogen Mission Recognizing the significant potential of Green Hydrogen, the Government of India has launched the National Green Hydrogen Mission, allocating Rs 19,700 crore in the 2023 budget. This initiative reflects the government’s commitment to reducing carbon emissions and fossil fuel dependency. The government has set a carbon emission threshold of two kilograms of CO2 per kilogram of hydrogen to qualify as “Green” Hydrogen, fostering clarity and standardization in its production. With global hydrogen consumption currently around 70 million tons annually, predominantly as grey hydrogen from fossil fuels, India aims to produce 5 million metric tons of Green Hydrogen by 2030. This could save over INR 1 trillion in fossil fuel imports and cut 50 million metric tons of carbon emissions. A $2.3 billion government investment supports this ambition, aiming to enhance India’s renewable energy capacity by 125 gigawatts by 2030. Meanwhile, other global powers like China, the European Union, and the United States are also heavily investing in Green Hydrogen, with the global market projected to expand twentyfold to $80 billion by 2030. India’s strategy includes advancing efficient hydrogen production technologies, such as improved electrolysis, and supporting research in hydrogen storage and transportation. Furthermore, the government is fostering a supportive regulatory landscape, offering incentives and considering policy relaxations to attract investments and facilitate sector growth. Maharashtra’s Leadership in Green Hydrogen Development Maharashtra is emerging as a leader in the development of Green Hydrogen, underpinned by comprehensive policy support and substantial investments. The Maharashtra Green Hydrogen Policy 2023 sets ambitious goals to foster a robust ecosystem for Green Hydrogen and its derivatives such as green ammonia and methanol. This policy, valid until March 2030, aims to attract significant investment by offering incentives like up to 30% capital cost subsidy for specific projects and substantial concessions on transmission charges. The state has approved a budget of INR 8,562 crore for the implementation of this policy, focusing on renewable energy and Green Hydrogen projects. This includes funding for skilled manpower recruitment and training, emphasizing skill development to support this growing industry. Gujarat’s Strategic Investments in Hydrogen Ecosystem Gujarat is positioning itself to become a major hub in the global Green Hydrogen economy. The state has embarked on strategic investments to develop a robust hydrogen ecosystem, highlighted during the Vibrant Gujarat Global Summit 2024, where significant investments were announced. These investments aim to create a comprehensive infrastructure for Green Hydrogen production, including advancements in technology and capacity building for large-scale production. The ambition is to make Gujarat the world’s largest Green Hydrogen hub, with Prime Minister Narendra Modi noting that such initiatives will transform the global energy landscape, shifting towards more sustainable and renewable energy sources. This transformation is expected to bring substantial economic growth to Gujarat, attracting global investors and creating new job opportunities. Also, Advait Infratech is actively contributing to the green hydrogen revolution in Gujarat by setting up a significant facility for the manufacturing and assembly of fuel cells and electrolyzers in Kadi, Mehsana. This initiative, established through a MOU signed at the Vibrant Gujarat Global Summit 2024, represents a crucial step toward sustainable energy solutions in the region. Among other key initiatives, the state has planned sector-specific parks to lower capital and operational costs for industries, aiming to foster a conducive environment for the hydrogen economy. This strategic
Green Hydrogen in India: State-Level Initiatives Driving the Clean Energy Transition
India’s state-level initiatives are driving the clean energy transition by promoting Green Hydrogen production and usage, with several states implementing policies and incentives to support the development of Green Hydrogen hubs and infrastructure India is making bold strides in the fight against climate change with a strong commitment to Green Hydrogen, setting a global benchmark for carbon neutrality. Positioned at the forefront of an energy revolution, India sees Green Hydrogen as a key player in its sustainable agenda. Lets see how different states in India are leading the charge in the Green Hydrogen revolution, showcasing key policies, advancements, and their potential to drive sustainable growth. The Green Hydrogen Spectrum in India India’s Green Hydrogen spectrum is rapidly expanding, driven by ambitious national goals to become a global leader in clean energy production. This clean energy form is produced by splitting water into hydrogen and oxygen using renewable energy sources like solar and wind. With a vast potential of about 750 GW solar and 302 GW wind energy, India is well-equipped for major Green Hydrogen projects. According to the International Renewable Energy Agency (IRENA), hydrogen could comprise up to 12% of global energy use by 2050, reducing annual CO2 emissions by six gigatonnes, aligning with international climate goals and establishing India as a global leader in green energy transitions. Hydrogen’s Role Across Sectors: Enabling Sustainability Hydrogen fuel cells are being applied in various sectors, providing versatile, eco-friendly energy solutions. From powering trains and buses to being utilized in heavy industries like steel and cement, Green Hydrogen serves as a cleaner alternative to traditional fossil fuels. It is particularly promising for the steel industry, which is responsible for a significant portion of fossil fuel emissions. Additionally, Green Hydrogen is vital for fertilizer production, which heavily depends on hydrogen. Its adaptability also extends to electricity generation and residential heating, showcasing its potential in transforming energy use across multiple domains. India’s Bold Steps with the National Green Hydrogen Mission India’s commitment is further emphasized through the National Green Hydrogen Mission, with an allocation of Rs 19,700 crore in the 2023 budget. This mission aims to foster the production of Green Hydrogen with a stringent carbon emission limit to ensure environmental benefits. By targeting the production of 5 million metric tons of Green Hydrogen by 2030, India plans to reduce its fossil fuel dependence, save on imports, and cut significant carbon emissions. A $2.3 billion investment is directed towards enhancing renewable energy capacities, ensuring India remains competitive in the burgeoning global Green Hydrogen market. State Initiatives Leading Green Hydrogen Innovations Maharashtra: A Forerunner in Green Hydrogen Development Maharashtra is setting high standards with its comprehensive Green Hydrogen Policy 2023, which encourages investments and offers incentives for Green Hydrogen projects. The state’s robust policy framework aims to develop a thriving Green Hydrogen and derivatives market, contributing significantly to the industry’s growth and sustainability. Maharashtra provides substantial incentives for renewable projects, such as Green Hydrogen and electrolyzer manufacturing, including a 100% discount on electricity. Moreover, the first 20 Green Hydrogen refueling stations receive a 30% subsidy on capital costs, with each eligible for up to ₹4.50 crore. Gujarat: Pioneering the Global Green Hydrogen Economy Gujarat plans to become a prime hub for Green Hydrogen, driven by substantial investments and strategic initiatives. Announcements at the Vibrant Gujarat Global Summit 2024 highlighted significant steps towards creating an integrated Green Hydrogen infrastructure, aiming to position Gujarat as a global leader in sustainable energy sources. Rajasthan: Leveraging Solar Potential for Hydrogen Production Rajasthan is leveraging its abundant solar energy for Green Hydrogen production, aligning with national goals under the National Green Hydrogen Mission. The state’s initiatives are supported by robust financial plans and policies aimed at boosting renewable energy utilization and reducing Green Hydrogen production costs. Karnataka: Establishing India’s First Green Hydrogen Cluster Karnataka is making strategic investments to set up the country’s first Green Hydrogen cluster in Mangalore, focusing on using renewable sources for hydrogen production. This initiative represents a significant move towards integrating sustainable energy solutions into the state’s industrial and energy sectors. Challenges and Opportunities: The Path Ahead While India’s progress in Green Hydrogen is noteworthy, challenges like high production costs, infrastructure needs, and regulatory issues remain. However, the potential benefits of Green Hydrogen for energy security and economic growth are immense. Supportive policies at state and national levels are critical for advancing Green Hydrogen technologies and ensuring India’s prominent role in this global green revolution. Conclusion Indian states are driving the Green Hydrogen revolution, each making distinct contributions to this emerging sector. Maharashtra aims to become a production hub, Gujarat links renewable resources with infrastructure, Rajasthan focuses on exports, and Karnataka invests in research. Together, these efforts not only push India towards a sustainable future but also position it as a leader in Green Hydrogen technology, paving the way for eco-friendly innovation and robust economic growth.
Navigating the future of hydrogen
India’s energy demands are skyrocketing, and the country is committed to a sustainable energy future, with Green Hydrogen gaining attention as a viable option to meet diverse energy needs while reducing carbon footprint. A paradigm shift is occurring in the global energy landscape with the emergence of a burgeoning low-carbon hydrogen industry. This nascent industry is witnessing the birth of new companies, innovative business models, and a rapid scale-up from pilot plants to commercial operations. The creation of “hydrogen hubs” and “hydrogen valleys” signifies a regional collaborative effort, underscoring the importance of hydrogen in future energy strategies. Despite the enthusiasm, substantial challenges like cost reduction, transportation logistics, and defining support regimes remain. Notably, the commitment of governments worldwide to net-zero targets underscores the crucial role hydrogen is anticipated to play. This globally dispersed interest highlights the potential for hydrogen to bridge the gap between advanced and developing economies, offering a unified solution to a universal challenge. Hydrogen as a clean energy source Current advancements in hydrogen technology, particularly in electrolysis – the process of splitting water into hydrogen and oxygen using electricity – have significantly reduced the cost and increased the efficiency of hydrogen production. This progress is critical in making hydrogen a viable alternative to traditional fossil fuels. However, challenges remain in the widespread adoption of hydrogen as a primary energy source. The main hurdle is the current dependence on fossil fuels for hydrogen production, which involves significant carbon emissions. Transitioning to Green Hydrogen, produced using renewable energy, is essential but requires substantial investment in renewable energy infrastructure and technological innovation. Infrastructure and market development For hydrogen to be a mainstay in the energy landscape, developing a robust infrastructure is crucial. This involves the creation of efficient hydrogen production facilities, reliable storage systems, and extensive transportation networks. The development of such infrastructure is a significant undertaking that requires considerable investment and coordination among governments, industry players, and other stakeholders. Market development also plays a pivotal role in the hydrogen economy. Establishing a market for hydrogen, particularly in sectors hard to electrify like heavy industry and transportation, is essential for its growth. Policymakers and industry leaders need to work together to create favorable regulatory frameworks and incentives that encourage the use of hydrogen. Additionally, fostering public-private partnerships can accelerate the development and commercialization of hydrogen technologies. However, the cost associated with building this infrastructure and market remains a challenge. High initial investments and the current expensive nature of hydrogen production compared to traditional energy sources are barriers that need to be addressed through innovation, economies of scale, and policy support. Addressing sustainability in hydrogen production Environmental sustainability in hydrogen production is a critical aspect of its role in a low-carbon economy. While hydrogen is potentially a clean energy carrier, its production method greatly influences its environmental impact. Currently, the majority of hydrogen production is ‘grey hydrogen’, derived from natural gas, releasing significant amounts of carbon dioxide. Transitioning to ‘Green Hydrogen’, produced via renewable-powered electrolysis, is crucial to realize the environmental benefits of hydrogen. The development of carbon capture and storage (CCS) technologies offers a pathway to reduce emissions from grey hydrogen production. While this ‘blue hydrogen’ is a step in the right direction, it is not a completely carbon-neutral solution. Thus, the focus must be on accelerating the transition to Green Hydrogen production. Moreover, the environmental impact of the entire hydrogen production and supply chain, including water usage, must be considered. Ensuring that hydrogen contributes positively to environmental sustainability necessitates continuous research and development in efficient and eco-friendly production technologies. The global vision for hydrogen Presently, hydrogen predominantly serves as an industrial gas, manufactured primarily from fossil fuels through carbon-intensive processes. This sector, accounting for about 2% of global energy consumption, is poised for a dramatic transformation. The ambition is to reinvent hydrogen production into a cleaner, low-carbon process, potentially revolutionizing its role from a mere industrial byproduct to a versatile, low-carbon energy carrier. This vision aligns with global business interests and political ambitions, signaling a unified move towards adopting hydrogen and its derivatives as key players in the low-carbon energy narrative. The Middle East: Renowned for its vast oil reserves, the Middle East is uniquely positioned to become a global hydrogen powerhouse. The region’s abundant solar and wind resources are ideal for Green Hydrogen production through electrolysis. Countries like Saudi Arabia and the United Arab Emirates are investing heavily in hydrogen infrastructure, aiming to become major exporters of clean hydrogen. However, the challenge lies in developing cost-effective production and export mechanisms to turn this vision into reality. India: As one of the world’s fastest-growing economies, India’s energy demands are skyrocketing. The country’s commitment to a sustainable energy future is evident in its ambitious renewable energy targets. Hydrogen, particularly Green Hydrogen, is gaining attention as a viable option to meet India’s diverse energy needs while reducing its carbon footprint. The challenge for India lies in integrating hydrogen into its existing energy infrastructure and scaling up production affordably. Europe: In Europe, several countries are actively developing hydrogen infrastructures. The Netherlands plans a €1.5 billion hydrogen network by 2030, partially funded by the state. Germany’s National Hydrogen Strategy aims for an 11,200 km backbone by 2032, with significant roles for private and regional companies. Spain and the UK have conditional plans for hydrogen infrastructure development by 2026. Moreover, local gas grids might invest in connecting hydrogen producers to industrial users, though such projects are currently limited. A key challenge in Europe is the absence of short-term regulatory frameworks for renewable gas infrastructures, leading operators to seek private or state funding. Substantial investments in low-carbon hydrogen networks aren’t expected before 2030, but the sector must be financially prepared for potential heavy investments. Funding strategies and balance sheet strength are crucial for maintaining credit quality amid uncertain natural gas demand and unclear prospects for green gases. Regulatory support, affecting cost recovery and tariff changes, remains vital for the creditworthiness of these companies, with increased uncertainties as regulatory periods conclude and new gas usages emerge. To ensure
India’s Green Hydrogen Mission: A Closer Look at Sub-National Roles and Strategies
India’s aspiration to become a global leader in renewable energy is evident from its ambitious goals set forth in its climate commitments. The nation is not only the fastest growing market for renewable energy but also an attractive destination for renewable investments. Recognizing the critical role of Green Hydrogen, India has embarked on the National Green Hydrogen Mission aimed at achieving energy independence by 2047 and net-zero emissions by 2070. This initiative intends to catalyze a systemic shift towards a Green Hydrogen economy, leveraging India’s vast renewable resources to potentially become a global supplier of Green Hydrogen. The Urgency of Energy Transition India’s energy consumption has doubled over the past two decades and is expected to increase by at least 25% by 2030. Currently, India imports more than 40% of its primary energy needs, which significantly impacts its economic and environmental sustainability. The reliance on imported fossil fuels in major sectors like mobility and industrial production underscores the necessity of transitioning to renewable energy sources. Green Hydrogen emerges as a promising solution, offering a way to integrate abundant renewable energy resources across seasons and regions, ultimately reducing dependence on fossil fuels. Strategic Importance of Green Hydrogen The global consensus on climate goals has heightened the demand for Green Hydrogen and its derivatives such as green ammonia and methanol. The volatility of fossil fuel prices, exacerbated by geopolitical tensions and supply chain disruptions during events like the COVID-19 pandemic, has accelerated the shift towards greener alternatives. India, with its significant renewable energy potential and strategic geographic location, is poised to capitalize on this shift. However, the journey is fraught with challenges including high production costs, lack of standardized regulations, and the need for extensive infrastructure for storage and transportation of hydrogen. Mission Objectives and Implementation The overarching goal of India’s National Green Hydrogen Mission is to position the country as a global hub for the production, usage, and export of Green Hydrogen and its derivatives. This aligns with India’s broader aim of self-reliance and clean energy transition. The mission targets the production of 5 million metric tonnes of Green Hydrogen annually by 2030, scaling up based on export market growth. It encompasses a comprehensive approach involving multiple sectors like ammonia production for fertilizers, steel manufacturing, and energy sectors including mobility and shipping. Sourcing and Infrastructure Development Current hydrogen consumption in India, primarily for industrial processes, is largely sourced from fossil fuels. The mission plans to shift this baseline towards Green Hydrogen through initiatives like setting up pilot projects, enhancing electrolyser technology, and reducing renewable energy costs. Infrastructure development is crucial, requiring coordinated efforts to establish renewable power delivery systems, storage solutions, and transportation networks for hydrogen. The mission is structured to be implemented in phases, starting with foundational activities to create demand and supply equilibrium and progressing towards more extensive integration of Green Hydrogen across the economy. The initial phase focuses on domestic electrolyser production and pilot projects in sectors already using hydrogen. Subsequent phases aim to expand applications and achieve cost parity with fossil fuels, significantly broadening the scope and scale of Green Hydrogen use. The Role of Sub-National Entities in India’s Green Hydrogen Mission The mission’s structure involves significant roles for state governments and local bodies, ensuring the development of Green Hydrogen hubs across the country. These hubs aim to leverage local renewable energy sources to produce Green Hydrogen, thus fostering regional economic growth and technological advancements. In response to the growing importance of sustainable energy, Indian states are implementing significant incentives to foster the development of Green Hydrogen. Gujarat is setting a pace by allocating ₹20 billion by 2030 to establish a 1 MMPTA Green Hydrogen capacity, with land allocation in Kutch specifically for existing companies in the sector. Maharashtra offers robust support with a 100% electricity discount for renewable projects, including Green Hydrogen and electrolyzer manufacturing. Additionally, the first 20 Green Hydrogen refueling stations benefit from a 30% capital cost subsidy, up to ₹4.50 crore each. Uttar Pradesh’s incentives include a complete exemption from land tax, land use conversion charges, and a 50% reduction in industrial water consumption charges for Green Hydrogen production. The state also offers 100% reimbursement of the State Goods and Services Tax (SGST) for Green Hydrogen/ammonia production. Andhra Pradesh promotes the sector by waiving 100% of electricity duties for five years post-commissioning, along with a 25% reimbursement of intrastate transmission charges for the same period. Additionally, they provide SGST reimbursement on Green Hydrogen and ammonia sales for the initial five years after a project’s completion. These strategic incentives across multiple states demonstrate India’s commitment to transitioning towards a more sustainable and green energy ecosystem, positioning the country as a leader in the global Green Hydrogen market. Expected Outcomes by 2030 By the end of this decade, the mission aims to achieve a Green Hydrogen production capacity of at least 5 Million Metric Tonnes (MMT) per annum. This is expected to raise an investment of over ₹8 lakh crore and create more than 6 lakh jobs, substantially reducing India’s carbon footprint by curtailing nearly 50 MMT of annual greenhouse gas emissions. The development of a robust certification framework for Green Hydrogen and its derivatives, as well as the establishment of an enabling policy framework, are additional measures to support the mission’s goals. These frameworks will facilitate the delivery of renewable energy for Green Hydrogen production and establish standards for equipment and production processes. Conclusion The National Green Hydrogen Mission represents a bold step towards transforming India’s energy landscape. By fostering a conducive ecosystem for Green Hydrogen production, the mission not only aims to reduce dependency on fossil fuel imports but also positions India at the forefront of the global clean energy transition. With coordinated governmental efforts and international collaborations, India is set to unlock a future where Green Hydrogen fuels not just industries but also contributes to sustainable development and environmental conservation.
Advait’s end to end services to encourage Carbon Neutrality
Advait offers comprehensive end-to-end services to promote carbon neutrality, assisting businesses in achieving their sustainability goals. Through innovative strategies, they help reduce carbon footprints, implement renewable energy solutions, and optimize resource efficiency, paving the way for a more sustainable and environmentally conscious corporate landscape.
The Rise of Green Hydrogen: Insights from India’s Ambitious $2.1 Billion Push
India is setting a global benchmark with its Green Hydrogen Mission, aiming to become a global hub for Green Hydrogen production and export. This ambitious initiative seeks to bolster energy independence and significantly decarbonize key economic sectors. The heart of this mission lies in achieving a Green Hydrogen production capacity of 5 million metric tonnes per annum (MMTPA) and enhancing renewable energy capacity by 125 gigawatts (GW) by 2030. This is expected to reduce greenhouse gas emissions by 50 MMTPA. A central component of this effort is the Strategic Interventions for Green Hydrogen Transition (SIGHT) program, which features two financial incentive mechanisms focused on domestic manufacturing of electrolysers and Green Hydrogen production. Policy Framework and Initiatives The National Green Hydrogen Mission (NGHM) is primarily focused on positioning India as a leader in Green Hydrogen production, utilization, and export. A significant aim is to replace Grey Hydrogen, currently used in industries like petroleum refining and ammonia production, with Green Hydrogen. The mission’s budget of Rs 197.44 billion (US$2.41 billion) is allocated across various segments, with Rs 174.9 billion (US$2.13 billion) dedicated to the SIGHT program. Other allocations include Rs 14.66 billion (US$178.8 million) for pilot projects and Rs 4 billion (US$48.8 million) for R&D. In the larger context of combating climate change and moving towards carbon neutrality, India’s move is both ambitious and timely. Let’s see the key Government Initiatives and how it aligns with global efforts to embrace cleaner, greener energy solutions. Government Initiatives and Policy Framework Establishment of the National Green Hydrogen Mission: The Indian government has set out the National Green Hydrogen Mission with an initial allocation of Rs. 19,744 crore. This mission targets the development of a Green Hydrogen production capacity of at least 5 million metric tons per annum by 2030, in tandem with an increase in renewable energy capacity by about 125 GW. Financial Incentives and Support: A significant portion of the mission’s budget, Rs. 17,490 crore, is dedicated to the Strategic Interventions for Green Hydrogen Transition Programme (SIGHT), offering financial incentives for domestic electrolyzer manufacturing and Green Hydrogen production. This approach is designed to boost the indigenous manufacturing sector, aiding in the development of an efficient Green Hydrogen ecosystem. Pilot Projects in Key Sectors: The government has earmarked Rs. 1,466 crore for pilot projects in sectors such as low-carbon steel, mobility, and shipping, which are crucial for testing and demonstrating the viability of Green Hydrogen technologies in real-world applications. Development of Green Hydrogen Hubs: The Mission plans to identify and cultivate regions capable of large-scale Green Hydrogen production and utilization. These Green Hydrogen Hubs will receive dedicated infrastructure development support, with an allocation of Rs. 400 crore up to 2025-26 for the initial phase. Enabling Policy Framework and Infrastructure Development: The government aims to provide various policy provisions, including waivers of interstate transmission charges for renewable energy used in Green Hydrogen production, to expedite the growth of the sector. Additionally, there is a focus on building supply chains for efficient hydrogen transport and distribution. Regulation and Standards Development: Efforts are underway to establish a robust framework of regulations and standards, crucial for the sector’s growth and international alignment. This framework will include guidelines for quality and performance criteria, essential for integrating Green Hydrogen into various economic sectors. Research, Development, and Skill Development: A public-private partnership framework, the Strategic Hydrogen Innovation Partnership (SHIP), will be facilitated to encourage research and development. This R&D focus is expected to be goal-oriented and time-bound, aiming to develop globally competitive technologies. Additionally, coordinated skill development programs will be initiated to create a skilled workforce in the Green Hydrogen domain.SECI’s RFS in SIGHT Program Attracts Major Interest SECI’s Request for Selection (RFS) for electrolyser production has sparked significant attention, drawing bids that total a remarkable 3328.5MW from 21 contenders, notably exceeding the initial 1500MW target. These bids originated from various parts of India. The ultimate locations for these manufacturing units will largely depend on the incentives and subsidies offered by individual state governments. In essence, the firms shall opt for locations providing the most advantageous support and benefits for their business operations. Issues and Challenges Faced by the Sector Despite the prevailing enthusiasm, the integration of Green Hydrogen into domestic industries is hampered by significant challenges. These challenges primarily stem from infrastructure limitations, regulatory ambiguities, and the absence of clear mandates. Moreover, the sector is confronted with concerns regarding bankability and anchor demand. To ensure project viability and achieve sales targets, manufacturers are required to secure anchor customers. This condition is pivotal for accessing the full spectrum of incentives. From a technological standpoint, there appears to be a discernible bias towards alkaline technology, predominantly due to its localization ease. This inclination could potentially result in overlooking opportunities to establish manufacturing bases for other competitive technologies. India’s progression towards green hydrogen signifies a significant advancement for our energy sector. It transcends mere technological advancements; it is about fostering a cleaner environment and ensuring a sustainable future for all. We are all integral to this journey, and it is indeed captivating to envision its future trajectory. Conclusion India’s substantial investment of $2.1 billion in Green Hydrogen underscores a significant advancement towards energy transition and sustainability. While the ambition and progress achieved are commendable, the journey is replete with challenges, encompassing market readiness, infrastructure development, and technological adaptation. To surmount these challenges, a concerted and collaborative effort is imperative among policymakers, industry stakeholders, and technology providers. As the global community increasingly gravitates towards greener energy solutions, India’s Green Hydrogen initiative emerges as a noteworthy endeavor, positioned to influence and shape the international Green Hydrogen landscape.
Vibrant Gujarat 2024: A Business Odyssey In The Land Of Entrepreneurs
10th Vibrant Gujarat Global Summit. Under the leadership of Chief Minister Bhupendra Patel, the summit not only celebrated the state’s current achievements but also set a strategic direction for the future. A recent study by Colliers India forecasts that India’s manufacturing sector might expand to a $1 trillion market by 2025-26. In this anticipated growth, Gujarat is expected to play a crucial role, especially considering its impressive performance in attracting investments in 2023. In 2023, Gujarat achieved a remarkable feat by attracting investments exceeding Rs 30,000 crore in the manufacturing sector. This substantial investment outpaced other Indian states, solidifying Gujarat’s position as the most preferred destination for manufacturing enterprises. The state’s success in this arena is attributable to its favourable industrial policies, robust infrastructure, and conducive business environment. Strategic Advancements and Policy Innovations The 10th Vibrant Gujarat Global Summit served as a testament to the state’s innovative strategies and policy decisions that have catapulted its manufacturing sector to new heights. Gujarat’s investment-friendly policies, characterized by the lowest average setup costs and significant allocation of incentives specifically for manufacturing, have made it an attractive destination for both domestic and international investors. Gujarat’s strategic allocation of approximately 34.7% of incentives and benefits to the manufacturing sector, which has been a key factor in attracting such hefty investments. These policies have not only facilitated a surge in investments but have also fostered an environment conducive to the growth of various industries. The state boasts a low unemployment rate, robust connectivity with well-developed ports, and a stable governance model, all of which contribute to its attractiveness as an investment destination. Additionally, the well-planned infrastructural development, including affordable land availability, ample labour supply, and a business-friendly environment, further strengthens Gujarat’s position as a leading manufacturing powerhouse in India. Infrastructure and Industrial Ecosystem: Building the Future In its recent budget, the Gujarat government announced several initiatives that underline its commitment to building a sustainable and advanced industrial ecosystem. These include setting up a Fintech Hub at GIFT City, a Semiconductor School at Sanand, and a manufacturing hub for the space sector in Khoraj near Ahmedabad. The budget allocation for these projects indicates the government’s foresight in nurturing industries that are key to future economic growth. The development of the Sabarmati Riverfront, the expansion of logistics capabilities at Alang, and the establishment of the Gatishakti Cargo Terminal at Rafaleshwar are strategic moves to enhance the state’s infrastructure. These projects are not only expected to boost the state’s industrial capacity but also to create new employment opportunities and foster regional development. Gujarat: Emerging as India’s Green Energy Hub In addition to its industrial prowess, Gujarat is rapidly positioning itself as the green energy hub of India, adding a sustainable dimension to its growth story. The state’s strategic focus on renewable energy sources, particularly solar and wind energy, is in line with global trends towards environmental sustainability. Gujarat’s vast coastline and geographical advantages have been effectively leveraged to establish substantial wind farms, while its high solar irradiance levels make it an ideal location for large-scale solar power projects. The government’s proactive policies and incentives in the renewable energy sector have attracted significant investments, leading to the establishment of some of India’s largest solar parks in the state. Amidst the numerous success stories emerging from Gujarat, a notable mention is Advait Infratech. Advait Infratech is exemplifying Gujarat’s entrepreneurial spirit as it recently won the SECI Tender bid, securing 100 MW with an incentive allocation of ₹1.48 billion. This achievement subtly underscores the state’s evolving landscape in the renewable energy sector and its attractiveness for substantial investments. A Vision for Sustainable Growth and Development Gujarat’s focus on emerging sectors such as semiconductors, agricultural technology, and waste management, particularly e-waste, is in alignment with global trends towards sustainability and technological innovation. The state’s initiatives in these areas, supported by various policy documents, demonstrate its commitment to embracing Industry 4.0, which includes the integration of AI, the adoption of 3D printing, and processes driven by the IoT. Gujarat’s strategic approach extends beyond traditional manufacturing. The state’s leadership in sectors like the automobile, FMCG, IT, and now, in emerging areas like semiconductors and space manufacturing, positions it as a versatile and forward-thinking industrial hub. The state’s governance stability over the past six terms has also created a favourable and secure environment for investors and developers, further cementing its position as an ideal destination for business and industrial growth. In conclusion, Vibrant Gujarat 2024 has marked a significant milestone in Gujarat’s journey towards becoming a global manufacturing leader. The state’s focused approach on strategic policy-making, robust infrastructure development, and investment in future-oriented sectors sets a blueprint for sustainable industrial growth. As Gujarat continues to excel in these areas, it solidifies its role as a critical contributor to India’s ambition of becoming a global manufacturing powerhouse, making it truly a land of entrepreneurs and industrial leaders.