$23Bn Planned Investment in India, Will it Go Far Enough?

India is making significant strides in its green hydrogen journey, with $23 billion in planned investments led by state-owned oil refineries.

These projects include tenders for 42,000 tonnes of green hydrogen per year, with 128 additional tenders expected based on initial results.

The Independent Commodity Intelligence Services (ICIS) reports that nine R&D or demo plants are under construction, while four have already been commissioned by Indian Oil Corp (IOC), Gail India, Hindustan Petroleum Corp (HPCL), and Bharat Petroleum Corp (BPCL).

One of the most ambitious projects is India’s largest green hydrogen plant, currently being developed by IOC at its Panipat refinery. This 10,000 tonne-per-year facility is slated for completion by December 2027.

Additionally, two green ammonia projects have begun construction in Odisha at the Gopalpur Industrial Park.

Hygenco has also launched a green hydrogen plant in the region, expected to produce 1.1 million tonnes per year across three phases, with Norwegian firm Aker Solutions handling front-end engineering design.

Beyond industrial applications, India is actively integrating hydrogen into its transport sector. The government has launched pilot projects for hydrogen-powered trucks and buses across 10 routes, supported by nine refuelling stations.

The goal is to have 1,000 hydrogen-powered vehicles on the roads by 2030, with 50 expected to be operational this year. Automakers such as Tata Motors, Ashok Leyland, and Olectra Greentech are leading the charge in developing hydrogen fuel cell and internal combustion models.

India’s National Green Hydrogen Mission, launched in 2023, aims to position the country as a global hub for green hydrogen, targeting 5 million metric tonnes of annual production by 2030.

The mission is backed by 60–100 GW of electrolyser capacity and government incentives to accelerate adoption. Infrastructure development is also underway, with Reliance, Bharat Petroleum, and Hindustan Petroleum working on key hydrogen corridors to support widespread deployment.

With these initiatives, India is rapidly advancing its hydrogen economy, balancing industrial growth with sustainability goals.