Economy

Haryana

Title

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Indian Economy - Understanding the basics of Indian economic system

India’s first Green Hydrogen Plant in the stainless steel sector

Context:

A significant leap towards a sustainable future has been taken with the establishment of India’s first Green Hydrogen Plant in the stainless steel sector, located in Hisar, Haryana.

Key Points:

This pioneering project, initiated by Jindal Stainless Limited (JSL) in collaboration with Hygenco, is a landmark achievement in the country’s efforts to decarbonize industrial processes and promote clean energy solutions.

The green hydrogen plant represents a groundbreaking initiative with several notable features:

First of its kind: This facility is recognized as the world’s first off-grid green hydrogen plant dedicated specifically to the stainless steel industry.
Location: The plant is strategically situated within the Jindal Stainless Limited facility in Hisar, Haryana.

The technical aspects of the green hydrogen plant highlight its innovative approach to energy production:

Production capacity: The plant has a production capacity of 75 tonnes of green hydrogen per annum, which is a substantial contribution to the hydrogen economy.
Energy source: It harnesses renewable energy through rooftop and floating solar panels, ensuring a sustainable and eco-friendly energy supply.
Unique feature: The installation of floating solar panels on water bodies not only generates electricity but also helps in reducing water evaporation, showcasing a dual benefit of resource management.

The environmental implications of this project are profound:

Carbon emission reduction: The plant aims to cut down approximately 2,700 metric tonnes of carbon emissions annually. Over a span of 20 years, it is projected to reduce a total of 54,000 tonnes of CO2 emissions, contributing significantly to India’s climate goals.
Sustainable practices: By utilizing green hydrogen, the plant promotes sustainable manufacturing practices that align with global efforts to combat climate change.

The establishment of the green hydrogen plant signifies a critical shift in the steel production landscape:

Technological innovation: Traditional steel production methods have relied heavily on coal, a major contributor to greenhouse gas emissions. The introduction of green hydrogen offers a cleaner alternative, paving the way for more sustainable industrial processes.
Economic and industrial implications: The stainless steel sector in India is experiencing robust growth, with an annual increase of approximately 10%. This project not only supports this growth but also addresses India’s high dependency on fossil fuels, with over 80% of its fuel requirements currently being met through imports.