Karnataka ministers hold discussions to attract investments for green hydrogen development

PTI, Feb 10, 2024, 9:47 AM IST

Karnataka Energy Minister K J George chaired a meeting along with Large and Medium Industries Minister M B Patil on Friday to chalk out a policy to promote Green Hydrogen in the state.

Green Hydrogen is hydrogen produced by the electrolysis of water, using renewable electricity.

The key objectives of this initiative would be to facilitate the development of green hydrogen production capacity of at least 0.5 million tonnes per annum, catering to the domestic and export markets.

According to an official statement, the objectives of the initiative are to attract investments that qualify under the strategic interventions for Strategic Interventions for Green Hydrogen Transition (SIGHT) under the National Green Hydrogen Mission; to foster demand for Green Hydrogen and its derivatives among industry and mobility sectors through fiscal incentives; and to enable employment generation through skilling programmes and initiatives, as well as to enable strategic tie-ups with industry and other stakeholders.