Green Hydrogen: Which Stocks are Set to Gain in India ?

Green hydrogen is gaining traction as a clean and renewable fuel source that can help reduce carbon emissions. Unlike traditional hydrogen, which is produced using fossil fuels, green hydrogen is produced using renewable energy sources such as solar and wind. The Indian government has recognized the potential of green hydrogen and has set a target of 450 GW of renewable energy capacity by 2030, which will drive demand for green hydrogen. In this blog, we will look at the stocks that are set to gain from the growth of green hydrogen in India.

Tata Power

Tata Power is one of India's leading renewable energy companies and has set a target of achieving 80% of its total capacity from clean energy sources by 2030. The company has already invested in green hydrogen production and is expected to benefit from the growth in demand for green hydrogen in the country.

Adani Green Energy

Adani Green Energy is another leading renewable energy company in India that is well-positioned to benefit from the growth of green hydrogen in the country. The company has set a target of achieving 25 GW of renewable energy capacity by 2025, which will drive demand for green hydrogen.

Indian Oil Corporation

Indian Oil Corporation is India's largest oil refining and marketing company and is now looking to diversify into green hydrogen production. The company has announced plans to set up a green hydrogen production plant and is expected to benefit from the growth in demand for green hydrogen in the country.

Reliance Industries

Reliance Industries is one of India's largest conglomerates and is now looking to enter the green hydrogen space. The company has announced plans to set up a green hydrogen plant in Jamnagar, Gujarat, which will be powered by renewable energy sources.

NTPC

NTPC is India's largest power generating company and is now looking to diversify into green hydrogen production. The company has announced plans to set up a green hydrogen production plant in the state of Rajasthan, which will be powered by solar energy.

Conclusion

Green Hydrogen is set to play a significant role in India's transition to a clean and renewable energy future. Companies that are well-positioned to benefit from the growth of green hydrogen in India include Tata Power, Adani Green Energy, Indian Oil Corporation, Reliance Industries, and NTPC. Investors looking to gain exposure to the growth of green hydrogen in India should consider these companies. However, it is important to note that investing in stocks comes with risks, and investors should always do their due diligence before making any investment decisions.