After solar, India will now be seen in the hydrogen sector, you will also get a chance to earn!

Many countries around the world, including India, are now moving towards clean energy. India's next major energy transition could come not just from grid, solar, or wind energy, but from green hydrogen. 

To this end, the government has launched the National Green Hydrogen Mission. This mission aims to produce 5 million metric tons (MMT) of green hydrogen by 2030. The government has allocated a budget of ₹19,744 crore for this purpose by FY30.

The government has allocated ₹2,220 crore for electrolyzer manufacturing and ₹2,239 crore for hydrogen production. Advait estimates that the market for green hydrogen and related technologies could be worth approximately ₹70,000 crore. 

The government is promoting the use of hydrogen in refineries, fertilizers, steel, and heavy industries to reduce pollution. Consequently, many companies are rapidly investing in this sector.

Cleaner and better fuel

Green hydrogen is a clean and environmentally friendly fuel. It is produced by converting water into hydrogen using special technologies such as electrolyzers. This hydrogen can then be converted back into electricity using fuel cells. 

If you invest in the stock market and are interested in stocks like solar or wind energy, you should also consider green hydrogen. Here are three companies that are betting on green hydrogen.

1. Sterling & Wilson Renewable Energy

Sterling & Wilson Renewable Energy (SWREL) is a major renewable energy EPC company. It works on solar, wind, battery storage, and waste-to-energy projects. The company is now also focusing on green hydrogen and battery energy storage systems (BESS). 

Reliance Industries holds a 40% stake in SWREL, which could significantly benefit the company. Reliance itself is working on a plan to produce 3 million tons of green hydrogen. 

SWREL has been awarded India's largest BESS project in Rajasthan. The company has also launched a solar + BESS pilot project in Jamnagar, Gujarat. In FY26, the company's revenue increased by 20% to ₹7,548 crore. 

EBITDA increased by 53% to ₹444 crore. However, due to extraordinary losses of ₹611 crore, the company incurred a net loss of ₹296 crore. The company's order book has reached ₹11,813 crore and is targeting 15% growth in FY27.

2. Non-dual energy transition

Advait Energy Transition (AETL) is a provider of power transmission and telecom network solutions. The company is rapidly expanding into the green hydrogen sector. The company plans to set up an electrolyzer manufacturing plant in Gujarat. 

Its initial capacity will be 120 MW, which will be expanded to 300 MW. The entire plant is expected to be operational by 2027. Advait has also entered into technology partnerships with several foreign companies, including TECO2030 of Norway and AVL List of Austria. 

The company aims to achieve 95% Make in India manufacturing. After full capacity is operational, the company expects revenue of ₹200-300 crore in the first year. 

According to the company, the cost of the electrolyzer could range from ₹3.5 crore to ₹6 crore per MW. Additionally, revenue will be generated from compressors, piping, and cooling systems.

3. INOX India

INOX India is a cryogenic equipment manufacturer. It develops systems for storing and transporting gases at extremely low temperatures. Green hydrogen requires temperatures of -253°C to safely store and transport it. 

This is why demand for cryogenic technology is rapidly increasing. INOX India has completed its first liquid hydrogen tank project in South Korea. The company has also received a large order for an 86 kiloliter liquid hydrogen storage tank from ISRO. 

Additionally, the company has partnered with New Zealand-based Fabrum to expand its hydrogen business in the Asia-Pacific region. 

In FY26, the company's revenue increased by 20% to ₹1,157 crore. EBITDA increased by 23% to ₹281 crore, and net profit increased by 24% to ₹189 crore. The company has an order backlog of ₹1,457 crore.