Gandhinagar: The Gujarat cabinet has given approval to a draft land allocation policy for green hydrogen projects granting a total of 1.99 lakh hectares of land parcels in Kutch and Banaskantha districts to five private sector companies entering the green hydrogen manufacturing space.

The companies that have been granted land parcels  along with other incentives are Reliance New Energy Limited, Adani New Industries Limited, Torrent Power Limited, ArcelorMittal Nippon Steel India Limited and Welspun Group.

The government will lease the land for 40 years at a rate of Rs 15,000 per hectare. The government expects to earn Rs 299 crore from the land parcels and will accept a security deposit of Rs 2,998 crore from the five companies. According to the government estimates, renewable power generation on the proposed land will be 99,814 MW, with 39.95 lakh metric tonnes of green hydrogen production.

The Gujarat government will soon announce a policy to incentivize green hydrogen production, and these projects will receive priority sector status at the upcoming Vibrant Gujarat Global Summit. DeshGujarat