India looking to capture 10% of global demand for green hydrogen: Shripad Naik
Speaking at an event by the Federation of Indian Chambers of Commerce and Industry, Mr. Naik said that this ambition would require the country to continue innovating to 'strengthen certification and trading mechanism(s), ensure offtake certainty and unlocking green finance through instruments as viability gap funding, green bonds, and multilateral bank support.'
Green Hydrogen refers to hydrogen produced using renewable energy sources like solar, wind or hydropower. Herein, the electricity generated is utilised to split water into hydrogen and oxygen. Launched in 2023, the National Green Hydrogen Mission aspires to turn Indian into a global hub for production, use and export of green hydrogen and its derivatives.
Mr. Naik argued that, with technological advances in the realm of solar photovoltaic (PV), offshore wind and electrolyser efficiency, the cost of producing hydrogen was already coming down, and is expected to continue doing so. Earlier in his address, the MoS had pointed to integration, storage solutions, land availability and cost competitiveness being 'critical areas of focus'.
'However, these challenges are solvable,' he stated.
Private sector playing a pioneering role
The Minister of State said that the private sector was essaying a 'pioneering role' in the green hydrogen sector. He observed Indian companies are building gigascale projects, electrolyser manufacturing facilities, pilot projects for hydrogen mobility and blending and refuelling infrastructure.
'Many are also forging global partnerships to ensure cost competitiveness and position India as a reliable exporter in a global market expected to exceed 100 MMT by 2030,' he stated.
Use of Green Hydrogen in critical sectors
Mr. Naik enumerated that the government has launched pilot projects, exploring the direct use of green hydrogen, in critical sectors, as steel, transport and shipping. 23 projects have been sanctioned as part of their research and development initiatives, with more than 100 being evaluated for establishing centre of excellence.
The Union Minister further enumerated about setting up of green hydrogen testing facility in the country. He informed that 3 projects have been awarded. Furthermore, Mr. Naik stated, that more than one hundred green hydrogen standards and protocols have been adopted or are under development to ensure 'safety and quality'.
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