Insight
India's National Green Hydrogen Mission and its Impact on Refining
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Report summary
India’s refining sector stands at the forefront of the country’s clean energy transformation. With the launch of its National Green Hydrogen Mission (NGHM), India aims to cut 50 MMTPA of carbon emissions by 2030 and directs refineries to utilize green hydrogen equivalent to at least 10% of their total hydrogen demand. Our new developments within PetroPlan to model decarbonisation technology have been leveraged to evaluate the economics of electrolyser technology through a detailed case study of IOCL Panipat refinery’s planned 75 MW electrolyser project. The study analyses the cost trajectory of green hydrogen production and its competitiveness against steam methane reforming (SMR) under varying carbon pricing and policy support scenarios. It provides a forward-looking view on project economics and the potential impact on refinery margins. The study also highlights the adequacy of the current policies on incentives and subsidy from the government.
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