The Gujarat cabinet adopted the draft land allocation policy for green hydrogen projects by clearing 199,000 hectares of land for five key players – private sector entities – eyeing their foray into green hydrogen manufacturing, in addition to other incentives and the allocation will soon begin.
The major investors, who have in-principle approval from the state government for land parcels in Kutch and Banaskantha districts, include Reliance New Energy Limited (74,750 ha), Adani New Industries Limited (84,486 ha), Torrent Power Limited (18,000 ha), ArcelorMittal Nippon Steel India Limited (14,393 ha) and Welspun Group (8,000 ha).
Against a demand of 326,000 hectare in company proposals, the state cabinet has okayed 199,000 hectare at the rate of Rs 15,000 per hectare on a 40-year lease basis.
The government will accept £299.8 million as security deposit from these five companies. According to government estimates, 399,500 metric tonnes of green hydrogen will be produced on the proposed land, generating a total of 99,814 MW of renewable energy.
Among the players, the Reliance Group has already signed a memorandum of understanding with the state to set up a 100GW renewable energy park and green hydrogen park in addition to manufacturing electrolysers, with an investment of £56 billion.