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India's ₹20,000 Crore Bet on Carbon Capture
23 Jul
Summary
- India aims to achieve its net-zero 2070 target.
- A ₹20,000 crore outlay was announced for CCUS deployment.
- Three companies, Thermax, JSW Steel, and CMR Green, show CCUS exposure.
India is making a substantial investment in Carbon Capture, Utilisation, and Storage (CCUS) technologies as part of its ambitious net-zero 2070 target. The Union Budget 2026 allocated ₹20,000 crore over five years to accelerate CCUS deployment, supporting pilot and commercial projects across industries like power, steel, and cement.
Thermax is developing indigenous CCU technologies, converting captured CO₂ into valuable products like methanol. The company has strategic partnerships with IIT Delhi and HPCL to advance its research and deployment efforts.
JSW Steel is investing in CCUS for deep decarbonisation, aiming for net-neutral emissions by 2050. It operates a 100 TPD CCU facility and is exploring modular technology with Carbon Clean and pilot studies with IIT Kharagpur.
CMR Green Technologies, a leader in aluminum recycling, significantly reduces CO₂ emissions and holds a reserve of 2.7 lakh tons of carbon credits, representing a substantial future revenue potential.
These companies are positioned across different segments of the carbon value chain, from technology development to industrial application and carbon credit creation, as India expands its carbon capture capabilities and market.
