PSU Watch logo

| PM Modi likely to sign the proposed India-UAE free trade agreement in Dubai in Jan 2022 |   | NMDC announces interim dividend of Rs 9 per equity share |   | IEX shares rise for second day after turning ex-bonus |   | Private investment to pick up: CEA |   | MRPL board approves 100% CCD acquisition from OMPL |  

India has the potential to become Global Green Hydrogen Hub: Dr Jitendra Singh

India is well poised to take a leadership role towards Carbon neutrality and become the Global Green Hydrogen Hub, the Minister said on Friday
India has the potential to become Global Green Hydrogen Hub: Dr Jitendra Singh
India has the potential to become Global Green Hydrogen Hub: Dr Jitendra Singh
  • India is well poised to take a leadership role towards Carbon neutrality and will achieve a ‘Net Zero’ level by 2050
  • Dr Jitendra Singh delivers the keynote address at the ‘International Climate Summit 2021: Powering India’s Hydrogen Eco System’ as Chief Guest

New Delhi: Union Minister of State (IC) Science & Technology Dr Jitendra Singh today said that India has the potential to become a Global Hub of Green Hydrogen in near future. "PM Modi has accorded highest priority to clean and green energy and accordingly announced Hydrogen Mission a fortnight ago during the 75th Independence Day Speech", Singh said.

The Minister was speaking at the ‘International Climate Summit 2021: Powering India’s Hydrogen Eco System’ as chief guest in New Delhi attended by a galaxy of representatives from Central Ministries, Industry bodies, academia, energy experts and Diplomatic Missions. Singh said, with the rapid introduction of biofuels, renewable energy and green Hydrogen, India is well poised to take a leadership role towards Carbon neutrality and reiterated the commitment of the Government to achieve the ‘Net Zero’ level by 2050.

"India has set a target of renewable energy at 450 GW and is well on the path of achieving it. He said, due to the lowest cost of renewable energy, India definitely stands at a better footing to produce Hydrogen at the lowest cost compared to the other countries and therefore, India is poised for a Hydrogen Export Hub", Singh said. "By 2030, the global annual export potential for green hydrogen is expected to be 10.4 million tons to East Asia and EU, amounting to nearly 20 billion USD market. Government is ready to provide support to all the stakeholders to realize this goal", he added.

ALSO READ



The Minister said that in the last 7 years, the World has seen that how Prime Minister Modi has championed the cause of Green Technology to fight the challenges of the Climate Crisis. He said, even in his Independence Day address, Shri Modi underlined that Science and Technology will play a lead role in the next 25 years when India turns 100. He said the ultimate aim of all technological innovations is to bring “Ease of Living” for the common man.

"Keeping in line with Prime Minister’s emphasis on Green Hydrogen, an Aspirational goal for the country is “Hydrogen 212”. He explained the meaning of Hydrogen 212 as Green hydrogen generation cost of less than USD 2/ kg, Green hydrogen storage + distribution + refuelling cost of less than 1 $/ kg and Replacement of incumbent end-use technology with green hydrogen technology with ROI of less than 2 years" he said.

"India’s energy demand is likely to see exponential growth, but at the same time, India’s share of Renewable Energy (RE) is expected to reach at least 50% by 2050. He, however, added that Renewable Energy can help abatement of only 45-50% CO2 emission and Green hydrogen is most suitable for mitigating greenhouse gas (GHG) emissions" the Minister added.

(PSU Watch- India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)