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Prime Minister Narendra Modi during the inauguration of SEMICON India 2024 in Greater Noida on Wednesday. (Photo: PTI)
Prime Minister Narendra Modi on Wednesday stressed on the need to focus on new areas of energy transition like Green Hydrogen to deal with climate change saying it is not a matter of future rather it calls for an action now.
He was of the view that energy transition and sustainability have become central to global policy discourse.
He noted that Green Hydrogen is emerging as a promising addition to the world’s energy landscape and it can help in decarbonizing industries that are difficult to electrify.
Refineries, fertilizers, steel, heavy-duty transportation — many such sectors will benefit, he pointed out.
Green Hydrogen can also act as a storage solution for surplus renewable energy, he opined noting that India has already launched the National Green Hydrogen Mission in 2023.
The event is to further the Green Hydrogen mission for which the government had allocated Rs 19,744 crore. “We want to make India a global hub for the production, utilization and export of Green Hydrogen,” Modi said.
The National Green Hydrogen Mission is giving an impetus to innovation, infrastructure, industry and investment.
“We are investing in cutting-edge research and development. Partnerships between industry and academia are being formed. Startups and entrepreneurs who are working in this domain are being encouraged,” he added.
There is also a great potential for a green jobs ecosystem to develop. To enable this, we are also working on skill development for our youth in this sector, he stated.
Modi stated that climate change and energy transition are global concerns. “Our answers also need to be global in nature. International partnership is critical for promoting Green Hydrogen’s impact on decarbonization,” he said.
Scaling up production, minimising costs and building infrastructure can happen faster through cooperation, he opined.
“We also need to jointly invest in research and innovation to push technology further. In September 2023, the G20 Summit happened in India. In this Summit, there was a special focus on Green Hydrogen,” he stated.
He was of the view that exploring such topics together will greatly help green energy transition across the world.
On Paris commitments, he said that these were fulfilled 9 years ahead of the target of 2030. India’s installed non-fossil fuel capacity increased nearly 300 per cent in the last 10 years, he noted.
“But we are not resting on these achievements. We remain focused on strengthening existing solutions. We are also looking at new and innovative areas. This is where Green Hydrogen comes into the picture,” he said.
Speaking on the occasion, New and Renewable Energy Minister Pralhad Joshi said with a wide variety of usage across fertiliser, steel, automobile, shipping and glass industries, Green Hydrogen will have plenty of opportunities to export.
“This expanding sector will bring over Rs 8 lakh crore in total investments and generate employment for over 6 lakh people in the country,” he said.
Not only this, with the Green Hydrogen Mission, we are confident of reducing imports of natural gas and ammonia, there will be a total saving of Rs 1 lakh crore, he pointed out.
The Mission also provides support for mobility projects, shipping and ports projects, and low-carbon steel projects. It will lead to averting 50 MMT Carbon Dioxide emissions by 2030, he noted.
On electrolysers manufacturing, he said there was an overwhelming response from the bidders, as bids submitted were almost double of the tendered quantity. Around 3 GW annual manufacturing capacity has been awarded to 15 companies, and will be supported for a period of 5 years, he stated.
Therefore, he said the total manufacturing capacity to be incentivised under SIGHT (Strategic Interventions for Green Hydrogen Transition) will be 15 GW.
For Green Hydrogen Production, 4.12 Lakh TPA of Green Hydrogen production capacity has been awarded to 10 companies under the first tranche, he informed.
The next tender for 4.5 Lakh TPA of Green Hydrogen production is currently live, he noted. With an additional quantum of 7.39 LTPA of Green Ammonia in the process, India is awarding incentives for Green Hydrogen production to more than a million tonnes per annum capacity, he noted.
The tender for Green Ammonia floated by India is the largest such tender floated in the world today, he pointed out.
And the trust that the world reposes on us is evident from the fact that 2.55 MTPA of Green Ammonia exports have already been booked, he noted saying that several Indian companies have signed MoUs with companies from Japan, Korea, Norway, and many others for supply of Green Ammonia.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Sep 11 2024 | 2:20 PM IST
