Hydrogen and ammonia manufacturers are set to benefit from new policy that has been described as a major step in India transitioning away from fossil fuels.

Under the new policy, green hydrogen and ammonia manufacturers may purchase renewable power exchange or set up renewable energy capacity themselves.

Further to this, manufacturers will also be able to bank unconsumed renewable power for up to 30 days with a distribution company and take it back when required.

“The implementation of this policy will provide clean fuel to the common people of the country,” the Indian Government said in a statement.

“This will reduce dependence on fossil fuel and also reduce crude oil imports. The objective also is for our country to emerge as an export hub for green hydrogen and green ammonia.”

On the subject on export, the policy will also allow green hydrogen and ammonia manufacturers to set up bunkers near ports for storage of green ammonia for export.

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