India's commitment to sustainable energy took a significant leap forward as the Solar Energy Corporation of India (SECI) awarded Letters of Award (LoA) to nine companies, including industry giants like Reliance and L&T, for the establishment of green hydrogen production units under the National Green Hydrogen Mission (NGHM).

SECI's decision to award LoAs to Reliance Green Hydrogen and Green Chemicals Ltd, L&T Energy Green Tech Ltd, Waaree Clean Energy Solutions Pvt. Ltd, and six other companies marks a pivotal moment in the NGHM’s second phase (Tranche II, Mode I). The mission, with an overall outlay of Rs. 19,744 crore (approximately $2.37 billion), aims to significantly scale up green hydrogen production, reduce costs, and foster technological innovation.

The awarded projects will contribute to the production of 450,000 metric tons of green hydrogen annually, backed by a total incentive of Rs 5,400 crore (approximately $648 million). The incentive structure offers Rs 50 per kg in the first year, Rs 40 in the second, and Rs 30 in the third.

In tandem with the green hydrogen awards, the Central Electricity Regulatory Commission (CERC) approved tariffs for NTPC's 1,500 MW wind-solar hybrid projects, setting them between Rs 3.27 and Rs 3.32 per kWh. Additionally, CERC also approved tariffs of Rs 2.59 and Rs 2.6 per kWh for NTPC’s 1,500 MW interstate transmission system-connected solar projects. These tariff approvals are critical for facilitating the integration of large-scale renewable energy projects into the national grid.

Furthermore, the Maharashtra Electricity Regulatory Commission approved a tariff of Rs 3.65 per kWh for Adani Electricity Mumbai to procure 250 MW of wind power from JSW Neo Energy for 25 years. This long-term agreement highlights the growing confidence in wind energy as a reliable source of power and contributes to meeting renewable purchase obligations.

Infrastructure development is also a key focus, with PFC Consulting inviting bids to augment the evacuation capacity of renewable energy by 4.5 GW and construct line bays at the Mandsaur substation in Madhya Pradesh. This project aims to strengthen the transmission infrastructure, enabling the seamless integration of increasing renewable energy capacity.

On the industry front, Daimler India Commercial Vehicles (DICV) signed a power purchase agreement with Zelestra India to procure 16.2 MW of renewable energy for its Chennai factory, demonstrating the growing trend of corporate renewable energy procurement. KPI Green Energy secured a credit facility of ?2.72 billion to finance a 50 MW hybrid power project in Gujarat, showcasing the financial sector's increasing support for renewable energy ventures.