Archive · 11 Oct 2026
Three Indian Companies Position for Green Hydrogen Growth
India wants to make much more green hydrogen, a fuel made using renewable energy.
Its goal is to produce 5 million tonnes each year by 2030.
The article looks at three companies that could take part in this effort.
Waaree Energies is building a factory to make equipment called electrolysers.
Advait Energy Transitions is developing electrolysers and fuel cells and has completed some demonstration projects.
NTPC is planning a very large hydrogen hub and has also run smaller pilot projects.
The companies are at different stages, and the article says large-scale hydrogen businesses may take time to become commercial.
It does not recommend buying any of the stocks.
India’s National Green Hydrogen Mission targets annual production of 5 million tonnes by 2030.
Waaree Energies plans a 1 GW electrolyser plant in Gujarat, targeted for commercialisation by FY27, and reports an initial ₹155 crore order book.
Advait Energy Transitions is expanding electrolyser and fuel-cell capabilities, with a 30 MW semi-assembly unit commissioned in Ahmedabad in March 2026.
NTPC is developing a green hydrogen hub at Pudimadakka, with an envisaged investment of about ₹1 lakh crore.
The article says commercialisation timelines and company valuations differ, and presents the stocks for monitoring rather than as investment recommendations.
- Who
- Waaree Energies, Advait Energy Transitions and NTPC.
- What
- The companies are pursuing green hydrogen projects, including electrolyser manufacturing, fuel cells, pilot projects and a proposed production hub.
- When
- India’s production target is 2030; company milestones cited include March 2026 and targets through FY27 and mid-2028.
- Where
- India, including projects in Gujarat, Ahmedabad, Pudimadakka, Surat and Ladakh.
- Why
- To participate in the expected growth of green hydrogen and support India’s National Green Hydrogen Mission.
- India's green hydrogen target
- 5 million tonnes per year by 2030
- SIGHT programme outlay
- ₹17,490 crore, including ₹4,440 crore for electrolyser manufacturing and ₹13,050 crore for hydrogen production
- Waaree electrolyser facility
- Planned capacity of 1 GW; located in Dungri, Gujarat; targeted for commercialisation by FY27
- Waaree initial order book
- About ₹155 crore for green hydrogen offerings
- Advait semi-assembly unit
- 30 MW unit commissioned in Ahmedabad in March 2026
- NTPC Pudimadakka hub
- About ₹1 lakh crore envisaged investment across 1,200 acres
- NTPC hub production plan
- Roughly 5 GW of round-the-clock renewable energy to produce about 1,400 tonnes of hydrogen per day
- Investment disclaimer
- The article says it is for educational purposes and is not an investment recommendation.