New Delhi: At a virtual round table meeting with major German energy companies on Tuesday, Union Minister for Power and New & Renewable Energy RK Singh said that India will add some of the largest capacities in battery storage, green hydrogen and green ammonia not just for its own use, but for exporting to other countries as well. He invited Germany to source these new age fuels from India and to invest in India.
"We have the fastest rate of growth of #RenewableEnergy capacity in the world and we are going to add huge capacities in #BatteryStorage #GreenHydrogen #GreenAmmonia for our own purposes and for export as well," Singh tweeted after the meeting
Union Secretary for Power Alok Kumar, Joint Secretary MNRE Dr Vandana Kumar and other senior officials from India and Germany were present during the meeting.
Singh highlighted that India has emerged as the most attractive destination for investment in Renewable Energy (RE). India has focussed programmes for capacity addition and accelerating the energy transition, he added. The minister informed that India already has one of the largest RE capacities in the world, and India also has the fastest rate of growth of RE capacity addition.
Singh stated that India, under Prime Minister Narendra Modi, welcomes innovation. He underlined the numerous emerging opportunities and invited the companies to invest in India. He added that India has a completely accessible market, facilitative policies and an enabling regulatory ecosystem.
He stated that India will be one of the largest producers of green hydrogen in the world. We will manufacture green hydrogen at the most competitive prices, Singh told the German companies.
Singh stated that Germany will need to import large quantities of green hydrogen and green ammonia on their path to energy transition and invited them to source their requirements from India. The minister and German Minister for Economic Affairs and Climate Change signed a joint declaration of intent on Indo-German Hydrogen Task Force on May 2. Under the agreement, both the countries will establish an Indo-German Green Hydrogen Task Force to strengthen mutual cooperation in production, utilisation, storage and distribution of green hydrogen through building enabling frameworks for projects, regulations and standards, trade and joint research and development (R&D) projects.
The minister informed the German companies that India's plans will create significant opportunities in offshore wind. "We plan to have a capacity of 30,000 MW of offshore wind in our country," he said. He also added that German companies are welcome to participate and compete in manufacturing of high efficiency solar cells and modules of which India is going to set up 50,000 MW capacity.
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