NEW DELHI :
India plans to introduce a production-linked incentive (PLI) scheme to encourage the manufacturing of electrolyzers used to extract hydrogen from water, two people aware of the development said.
The power ministry and the government’s policy think tank NITI Aayog are working on the specifics of the scheme, which is likely to be launched by September, the people said on condition of anonymity. The scheme is likely to run for five years.
A favourable policy to encourage the manufacturing of electrolyzers is crucial for India to bring down the cost of green hydrogen. The nation’s richest billionaires, Mukesh Ambani and Gautam Adani have already announced mega plans to make India a green hydrogen hub. State-run Indian Oil Corp Ltd, the country’s largest oil refiner, had earlier this month agreed to…