Cost-competitive fossil fuels and insufficient transportation and storage infrastructure will prevent a surge in Indian green hydrogen demand by 2033, according to a new report by Wood MacKenzie.
That’s despite the nation’s big ambitions on the energy carrier, backed up by government support and the second-lowest electrolytic levelised cost of hydrogen (LCOH) in Asia.
In the consultancy’s high-growth scenario, India’s economy is projected to grow from $3.2 trillion to just shy of $9 trillion in 2033 – primarily driven by its energy-hungry industrial sector, which it says will ramp up fossil fuel consumption.
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