The New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) has evaluated that the green hydrogen sector in Andhra Pradesh has USD 15 billion worth of investment opportunities.
By 2030, the state intends to produce 500 KTPA of green hydrogen, which would be further processed to create derivatives such as green ammonia, green methanol, and many others.
Nearly 70 percent of the investment amount would be needed for the development of renewable energy infrastructure, while the remaining would be used for electrolyzer capacity expansion. For this purpose, the NREDCAP released a white paper on green hydrogen investment in the state under the ‘Accelerating Smart Power and Renewable Energy in India’ programme.
According to NREDCAP, Andhra Pradesh has a domestic hydrogen demand of 400 ktpa, which is expected to rise at a three percent compound annual growth rate (CAGR).
