India is moving towards becoming a green hydrogen leader of the world, a clean energy economy that potentially can alter the way India powers its future. Green hydrogen is produced using renewable energy sources, such as solar or wind power, to separate water into hydrogen and oxygen. This operation, referred to as electrolysis, does not emit any harmful pollutants, and it is thus a wonderful alternative to fossil fuels. The government of India has initiated the National Green Hydrogen Mission, which seeks to generate 5 million tonnes of green hydrogen annually by 2030. This is a huge leap towards curbing pollution and achieving energy independence for India.
For investors, this emerging industry presents a thrilling opportunity. Investing in green hydrogen stocks allows you to be part of India’s clean energy future while, perhaps, earning decent returns. In this blog post, we shall consider the top 5 green hydrogen stocks in India for 2025. These companies are at the forefront with their investments, technology, and green hydrogen plans. Let’s discuss why they are worth monitoring!
Top 5 Green Hydrogen Stocks in India for 2025
1. Reliance Industries Ltd.
Reliance Industries is India’s largest company, with operations in oil, telecom, and retail. Now it’s planning a huge foray into green hydrogen. The company is going to invest ₹75,000 crore (approximately $9 billion) in green energy, including an enormous complex in Jamnagar, Gujarat, the Dhirubhai Ambani Green Energy Giga Complex. The complex will include manufacturing facilities for solar panels, batteries, and electrolysers—the equipment that produce green hydrogen.
Reliance wishes to be a green hydrogen leader and see its whole business become carbon-neutral by 2035. That is, they won’t have any net carbon emissions. To achieve this, they’re constructing one of India’s biggest green hydrogen plants in Jamnagar, producing 5.8 tonnes of hydrogen every day. They’ve also formed alliances with international companies such as Denmark’s Stiesdal A/S to introduce the best technology for hydrogen production.
With its huge financial power and diverse businesses, Reliance is well-positioned to succeed in green hydrogen. If you’re looking for a strong, reliable stock in this sector, Reliance Industries is a top choice.
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2. Adani Green Energy Ltd.
Adani Green Energy falls under the Adani Group, India’s largest business group. It’s already a renewable energy leader, with numerous solar and wind energy projects spread throughout the country. Adani is now focusing on green hydrogen. The company will invest $70 billion (approximately ₹5.8 lakh crore) in green energy over 10 years, with considerable emphasis on hydrogen.
Their target is to make 2.5 million tonnes of green hydrogen annually by 2030. That’s gigantic! To achieve this, they’re constructing new plants and collaborating with international companies such as TotalEnergies from France. This collaboration will enable Adani to take advantage of the most recent technology and knowledge to generate green hydrogen at a reduced cost.
Adani Green Energy’s strong track record in renewable energy and its ambitious plans make it a great stock to watch. If you’re interested in companies that are pushing hard into green hydrogen, Adani is a name to remember.
3. NTPC Ltd.
NTPC is the largest power generation firm in India. It has historically used coal and gas to generate electricity, but now it’s going in the direction of cleaner energy. NTPC is spending big bucks on green hydrogen and has some hot projects in the pipeline.
One of their largest projects is the Pudimadaka Green Hydrogen Hub in Andhra Pradesh. This hub will generate 1,500 tonnes of green hydrogen per day, which is a lot! They’re also piloting hydrogen fuel cell buses in Leh, a high-altitude region, to test how well hydrogen performs in challenging conditions.
NTPC’s financial health and government support are reasons why it is a good bet for investors. The firm has a market capitalisation of ₹341,080 crore and is rapidly expanding its renewable energy share. If you’re looking for a stock that’s supported by a stable company with large green hydrogen ambitions, NTPC is a good bet.
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4. GAIL (India) Ltd.
GAIL is India’s leading natural gas firm. It pipelines and markets natural gas throughout the country, but it’s also diversifying into green hydrogen. GAIL is developing projects to mix hydrogen with natural gas, which can not only purify the gas and make it cleaner but also lower emissions.
They have established a pilot plant to generate 4.3 tonnes of green hydrogen every day through the use of electrolysers. This is just a starting point since GAIL has plans to expand production for transport and industrial use. They are also considering transporting and storing hydrogen safely.
GAIL’s knowledge of gas distribution provides them with a special edge in the green hydrogen segment. They already possess the pipelines and infrastructure, which can be converted for hydrogen. This makes GAIL a sensible choice for investors looking for a company that has a strong base and clean growth plans on the anvil.
5. Indian Oil Corporation (IOC)
Indian Oil Corporation, or IOC, is one of India’s largest refining companies. It’s famous for retailing petrol and diesel, but also venturing into green hydrogen. IOC is currently developing green hydrogen from renewable sources such as solar and wind power.
They have collaborated with the Bhabha Atomic Research Centre (BARC) in order to improve technology for the production of green hydrogen. This can potentially reduce the cost of production, which is currently a major challenge. IOC is also constructing a green hydrogen facility at Kochi Airport, which will be India’s first integrated green hydrogen plant.
With a strong foothold in the energy sector and a focus on clean energy, IOC is a good bet for investors. The company’s wealth of experience in fuel production and distribution will serve it well in the green hydrogen industry.
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Best Green Hydrogen Stocks in India: Comparison Table
Here’s a quick comparison of the top 5 green hydrogen stocks in India for 2025:
| Company Name | Sector | Green Hydrogen Initiatives |
|---|---|---|
| Reliance Industries Ltd. | Diversified | Investing ₹75,000 crore in green energy, building a giga complex for green hydrogen production. |
| Adani Green Energy Ltd. | Renewable Energy | Planning $70 billion investment, targeting 2.5 million tonnes/year of green hydrogen by 2030. |
| NTPC Ltd. | Power Generation | Setting up a Green Hydrogen Hub in Andhra Pradesh, piloting hydrogen fuel cell buses in Leh. |
| GAIL (India) Ltd. | Natural Gas | Blending hydrogen with natural gas, aiming for 4.3 tonnes/day green hydrogen production. |
| Indian Oil Corporation | Oil Refining | Developing green hydrogen production with renewable energy, building a plant at Kochi Airport. |
Conclusion
India’s green hydrogen sector is growing fast, and these five companies—Reliance Industries, Adani Green Energy, NTPC, GAIL, and Indian Oil Corporation—are leading the charge. Each has its own strengths: Reliance’s massive investments, Adani’s renewable energy expertise, NTPC’s power generation experience, GAIL’s gas infrastructure, and IOC’s fuel production know-how.
Investing in green hydrogen stocks is a chance to be part of India’s clean energy future. But remember, the sector is still new, and there are risks. Technology is evolving, costs are high, and regulations can change. It’s important to do your research and think about how much risk you’re comfortable with.
If you’re willing to invest, these five stocks are an ideal place to begin. They’re best placed to boom as India’s green hydrogen industry takes flight. Which one will you pick?
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FAQs: Best Green Hydrogen Stocks in India
1. What is green hydrogen?
Green hydrogen is hydrogen made by splitting water into hydrogen and oxygen using renewable energy like solar or wind power. It’s clean because it doesn’t produce carbon emissions.
2. Why is green hydrogen important for India?
Green hydrogen can help India reduce its reliance on fossil fuels, cut pollution, and become a global leader in clean energy. It’s also part of the country’s plan to be energy-independent by 2047.
3. How can I invest in green hydrogen stocks in India?
You can invest by opening a demat account with a brokerage firm and buying shares of companies involved in green hydrogen, like the ones listed in this post.
4. What are the risks of investing in green hydrogen stocks?
The risks include high production costs, new and untested technology, changes in government policies, and competition. The sector is still developing, so stock prices can be volatile.
5. Which company has the biggest green hydrogen plans?
Reliance Industries and Adani Green Energy have some of the largest plans, with huge investments and production targets for green hydrogen. They’re both aiming to be major players in the global market.
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