Green Hydrogen Stocks in India 2025

What are Green Hydrogen Stocks?

Green hydrogen stocks are shares of companies producing, storing, or distributing hydrogen made with renewable energy. These companies are central to India’s clean energy push and global climate commitments.

About the Top Green Hydrogen Companies in India

1. Reliance Industries Ltd: Reliance, founded in 1966, operates across energy, retail, and digital services. The company is building green hydrogen ecosystem at Jamnagar, aiming to reduce emissions and support future clean-energy demand in India.
2. Larsen & Toubro Ltd (L&T): L&T, founded in 1938, works across engineering, construction, and technology. The company manufactures electrolysers through partnerships and builds green hydrogen plants, pipelines, and related infrastructure.
3. NTPC Ltd: NTPC, founded in 1975, is India’s largest power producer. The company runs pilot hydrogen projects for mobility, industry, and blending, while working on integrating renewables into the grid at scale.
4. Adani Power Ltd: Adani Power, founded in 1996, focuses on thermal power generation while being part of a wider group investing in solar, wind, and emerging hydrogen projects.
5. Power Grid Corporation of India Ltd: Power Grid, founded in 1989, manages India’s national transmission network. The company supports renewable energy growth through large transmission corridors and grid-stability services.

Budget Allocations in the Green Hydrogen Sector (FY 2025–26)

• Increased Budget: The Union Budget 2025–26 allocates ₹600 cr. to the National Green Hydrogen Mission, doubling the ₹300 cr. allocated in 2024–25.
• Total Mission Outlay: The National Green Hydrogen Mission has a total outlay of ₹19,744 cr. to promote hydrogen production, storage, and innovation.
• Focus on Renewable Energy Integration: The mission encourages the use of renewable energy sources to produce hydrogen, supporting India’s goal of achieving 5 mn metric tonnes of green hydrogen annually by 2030.

How to Invest in Green Hydrogen Stocks?

Here is how you can invest in green energy stocks in India:

1. Open a demat/trading/stockbroker account. You can open a demat account with smallcase!
2. Research the Top green hydrogen stocks in India using tools like Tickertape Stock Screener, which provides 200+ filters to track hydrogen sector stocks and clean energy stocks.
3. Place a ‘Buy’ Order on the top green hydrogen energy stocks that align with your investment thesis.

Benefits of Investing in Green Hydrogen Stocks in India

• Growth Potential: The demand for clean energy continues to rise as India and other nations aim for carbon neutrality. Green energy companies in India are positioned to benefit from government support, rising global investments, and increasing adoption of hydrogen fuel across industries.
• Diversification: Green hydrogen companies in India provide exposure beyond traditional energy and renewable energy. They reduce reliance on fossil fuels and add balance by tapping into a fast-growing clean energy sector.
• Innovation and Technological Advancements: Green hydrogen companies are at the forefront of innovation in electrolysis, fuel cells, and storage solutions. Investors may gain exposure to emerging hydrogen technology stocks that may shape the future of the global energy market.

Risks of Investing in Green Hydrogen Stocks

• High Production Costs: The production of green hydrogen relies on advanced electrolysis technology, which remains expensive. These high costs can affect the profitability of hydrogen energy stocks.
• Limited Infrastructure: India’s infrastructure for storing, transporting, and distributing hydrogen is still under development. This creates challenges for scaling operations, which may impact the green hydrogen share price.
• Competition from Fossil Fuels: Although harmful to the environment, fossil fuels remain cheaper and more established. Their dominance continues to pose competitive pressure on the green hydrogen sector in India until renewable technologies achieve greater cost efficiency.
• Regulation and Policy: Shifts in government policies or global energy regulations can create uncertainty, influencing the financial stability of green hydrogen stocks in India.

Factors to Consider Before Investing in Green Hydrogen Stocks in India

• Government Policies and Regulations: Staying updated with policy changes, budget allocations, and renewable energy targets is crucial, as they directly influence the growth of green, sustainable energy stocks in India.
• Financial Performance: Hydrogen projects demand heavy upfront investment. That’s why it becomes vital to review the revenue, margins, debt, and cash flow of hydrogen companies. This is particularly important when evaluating low-cap hydrogen stocks in India, which may face more financial strain.
• Market Demand and Adoption: The demand for hydrogen in industries such as transportation, manufacturing, and energy storage will shape the future performance of green hydrogen shares. Companies aligned with these fast-growing sectors may contribute more to India’s hydrogen sector growth.