India’s Strategic Interventions for Green Hydrogen Transition (SIGHT) program has chosen ten companies to receive incentives, including L&T Energy, Waaree Clean Energy, Reliance Green Hydrogen, and AM Green. This initiative is a component of India’s National Green Hydrogen Mission, which was introduced in January 2023 and has a ₹17,490 crore budget for electrolyzers and green hydrogen.
The SIGHT initiative seeks to build green hydrogen production facilities capable of producing 450,000 tonnes annually. This tranche has a total incentive of ₹5,400 crores allotted. The chosen enterprises will be given financial assistance according to the capacities they have bid for; the incentive’s cap is set at ₹50 per kg in the first year of production, ₹40 per kg in the second, and ₹30 per kg in the last.
Following a bucket-filling strategy, the bidder with the lowest incentive demand would receive the financial support and its necessary capacity, followed by the next lowest, and so on, until the entire offered capacity was used up. This allowed the winners to be chosen based on the least incentive demanded.
By encouraging the production of green hydrogen, this project demonstrates India’s dedication to increasing the use of sustainable energy sources and lowering carbon emissions.