Renewable energy accounts for 70-75 percent of the cost of green hydrogen production.
July 05, 2023 / 02:11 PM IST
Union minister for power and renewable energy RK Singh
Calling for investments in the green hydrogen sector in India, Union minister for power and renewable energy RK Singh on July 5 said green hydrogen is going to be cheapest, compared to most countries in the world.
“Green hydrogen is the future fuel in India. Also, green hydrogen in India is going to be the cheapest compared to other countries because in we have low-cost renewable energy available in our country. It is way cheaper to set up a renewable energy plant compared to other countries and our cost of RE power is also one of the cheapest,” Singh said at the inaugural session of the Indian government’s first International Conference on Green Hydrogen 2023.
Renewable energy accounts for 70-75 percent of the cost of green hydrogen production.
Singh said investors can partner for development of electrolysers, mechanism for transportation of green hydrogen, usage of green hydrogen in manufacturing for green steel and cement etc.
“We will help you in developing (green hydrogen) projects. We will also help you with demand as well. Come and partner with us. Like in the field of renewable energy, India shall emerge as a leader in Hydrogen also,” he said.
The minister, in his address to about 2,500 participants, said there are Industries which have already started working to set up 3.5 MT capacity for green hydrogen production. At present, they are engaged with various states for acquisition of land.
Talking about the preventive barriers put up by some countries to capture the green hydrogen market, Singh said such steps are contrary to the principles on which climate change mitigation measures are being taken up across the world.
“We can also put up barriers, if we want to and we shall, if the need arises,” Singh said.
In January 2023, the Centre approved the National Green Hydrogen Mission with an outlay of Rs 19,744 crore with an aim to make India a global hub for manufacturing of green hydrogen.
The mission seeks to promote development of a production capacity of at least 5 MMT (Million Metric Tonnes) per annum with an associated renewable energy capacity addition of about 125 GW in the country by 2030.
The three-day international conference on green hydrogen in Delhi will have at least 25 sessions aimed at establishing a green hydrogen ecosystem. Delegates will also get to hear country-specific perspectives on green hydrogen by representatives from the United States of America, Australia, Africa, Europe, other than India.
