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India Gazette
3 days ago
- Business
- India Gazette
IndianOil finalises India's largest Green Hydrogen project at Panipat
New Delhi [India], May 31 (ANI): In a major step towards promoting clean energy in India, IndianOil has finalised the Levelized Cost of Hydrogen (LCOH) for setting up a 10,000 Tonnes Per Annum Green Hydrogen Generation Unit at its Panipat Refinery & Petrochemical Complex. This project marks IndianOil's entry into the green hydrogen sector and will be the largest green hydrogen initiative in India to date. The company in a statement on Friday, stated that 'Slated for commissioning by December 2027, the Green Hydrogen produced will replace fossil-derived Hydrogen in refinery operations, resulting in substantial reduction in Carbon emissions'. The plant is expected to be commissioned by December 2027. The green hydrogen produced at this facility will replace the fossil-fuel-based hydrogen currently used in the refinery's operations. This transition is expected to significantly cut down carbon emissions, helping IndianOil move towards a more sustainable and environment-friendly model. The company also added that this initiative is in line with Prime Minister Narendra Modi's vision under the National Green Hydrogen Mission and forms a critical part of IndianOil's larger decarbonization strategy. The project also supports the company's Net Zero target and demonstrates its commitment to leading India's shift towards a cleaner and greener energy future. Earlier, Arvinder Singh Sahney, Chairman of IOC, during an exclusive conversation with ANI at the World Economic Forum 2025 in Davos, Switzerland, stated that the plant, with a production capacity of 10,000 tons per annum, had made substantial progress. 'Green hydrogen plant is now alive. We have got very good bids for it. And now the tenders are under evaluation. And within a month or so, we will be able to award the job, and within two years, that green hydrogen, the 10,000 tons per annum plant at Panipat (Haryana) will be commissioned' he said. The plant aims to bolster India's green energy mission, contributing to a sustainable and carbon-neutral future. With this landmark project, IndianOil further strengthens its leadership in the country's energy transformation journey. (ANI)
Time of India
28-04-2025
- Business
- Time of India
Green hydrogen adoption may delay as price gap with grey to persist: Crisil Ratings
The transition to green hydrogen may face a roadblock as the price differential between the grey and green hydrogen is likely to persist, according to a report by Crisil Ratings . As per the report, the price gap is expected to come down from its current level of $2.0-2.5 per kg, but it is expected to remain at $1.0-1.5 per kg over the next three fiscals, resulting in delaying offtake mandates and elevating project risk. Green hydrogen production , which involves splitting water using renewable energy via an electrolyser, is a capital-intensive process. Crisil highlights that the cost is largely divided between the round-the-clock (RTC) renewable energy plant with storage (nearly two-thirds) and the electrolyser itself (about one-third). Achieving cost competitiveness with grey hydrogen , which relies on fossil fuels, would necessitate the Levelised Cost of Hydrogen (LCOH) for green hydrogen falling by more than half. Analysts at Crisil estimate this requires a substantial 40-50 per cent reduction in the capital costs of both the renewable plant and the electrolyser – a decline considered unlikely within the next 2-3 fiscal years. Slow pace Despite some positive trends, such as declining battery prices (down 30-40 per cent in the past two years) and government exemptions for domestic modules in special economic zone for renewable projects, the impact on the overall cost of storage-backed renewable plants is limited, perhaps only around a 10 per cent reduction even with a significant 50 per cent drop in battery prices. Electrolyser costs have also seen declines, falling 42 per cent between 2010 and 2020. However, the pace has slowed considerably, with only about a 20 per cent reduction from 2021-2024. Costs still exceed $1,000 per kilowatt as of March 2024. Furthermore, electrolyser efficiency has stagnated at 60-65 per cent, hampered by technological challenges, limited manufacturing scale, and the high costs of critical rare earth materials Ankit Hakhu, Director at Crisil Ratings, expects a 30-35 per cent reduction in electrolyser cost and a 5-10 percentage point efficiency improvement by 2030. However, he noted, "Even if these expectations come true, the price differential between grey and green hydrogen will persist at $1.0-1.5 per kg over the next three fiscals." He added that with over 90 per cent of global electrolyser projects still in early planning phases, actual cost declines will only become fully apparent as more capacity is built and becomes operational.
Forbes
23-04-2025
- Business
- Forbes
Cloud Security Is Fueling Tech Leaders Innovation Growth Solutions
In a rapidly digitizing world, cloud computing has become the backbone of innovation. However, as the world races toward a tech-driven society, one critical issue demands urgent attention and that's security. Tech leaders like IntelligIS CEO Marcus Wilson, BizTech Fusion CEO Xadean Ahmasi and ECF Data CEO Joseph Hendrson see cloud migration as more than just a technical change. They consider it crucial for building organizational resilience and strengthening security posture, with Fortune Business Insights projecting that the global IT security market to reach $578.2 billion by 2033. The Breakdown You Need To Know: Cloud adoption without robust IT security is like building a smart city on a cracked foundation. To truly unlock the promise of digital transformation, IT security cloud solutions must be prioritized, not just as an afterthought, but as a strategic enabler. This is why Henderson, Ahmasi and Wilson leaned into the resources available to them as Microsoft BPGI Partners to help scale their businesses and provide exceptional results for clients, as CultureBanx noted during its 'Elevating Innovation' session. IT security remains tricky and this is exactly why a company like IntelligIS is hyper-focused on making sure to deliver the best security solutions to its clients. Companies can no longer ignore how poor cloud security hits their bottom line. Recent data shows that data breaches now cost $4.88 million on average in 2024, according to Beamsec. 'Educating our clients is key because it doesn't matter what type of tool you use. It could be multi-factor identification or end-to-end encryption…there are always gaps in the system,' said Wilson, IntelligIS CEO to CultureBanx. SentinelOne reported about 40% of breaches happen in hybrid cloud setups compared to single-environment storage. So, security teams must know how to handle the unique challenges of multi-cloud systems. Future Ready Solutions: The Center for Internet Security found that public cloud breaches prove the most expensive, with average costs reaching $5.17 million. These worrying numbers haven't stopped organizations like ECF Data from seeing that a well-planned move to the cloud actually makes things safer rather than riskier. Even with new technologies like generative AI models, IoT devices, and SaaS applications creating more attack points, a well-implemented cloud security setup offers clear advantages. IBM's Cost of a Data Breach Report Companies using AI and automation for security prevention cut their breach costs by $2.22 million compared to those without these tools. 'We've been doing a lot of AI projects to help transform organizations by using application development that we wrap with Microsoft Azzure Open AI products to help facilitate growth in various areas,' said Henderson, President and CEO of ECF Data. Companies are now recognizing that well-secured cloud environments protect better against emerging threats. Due to this cloud computing budgets will reach 51% of IT spending by 2025, according to Gartner. Trusting Innovation: Trust drives adoption because consumers, employees, and business partners are more likely to embrace digital platforms when they are confident that their data is secure. IT security solutions such as end-to-end encryption, identity access management and threat detection build trust. CultureBanx reported that in sectors like healthcare and fintech, where data sensitivity is paramount, this trust is non-negotiable. These industries along with others are using converging data solutions to fuel global expansion as businesses scale across borders, they must comply with stringent data regulations. BizTech Fusion is at the forefront urging companies to proactively invest in cloud security to better position themselves to expand and avoid repercussions. 'Any industry that deals with vast amounts of complex non-linear data that demands integration like bio-tech, day trading and sports betting, we make sure that it's optimized for companies to enhance their productivity, " said BizTech Fusion President and CEO, Ahmasi. What's Next: It's important to note that in 2025 alone, global cybercrime costs are projected to exceed $10.5 trillion, according to Cybersecurity Ventures. This reality underscores a simple truth that a tech-driven society cannot exist without secure digital infrastructure. Cloud security is no longer a technical detail, it is a strategic priority. In an effort to move from reactive defenses to proactive enablers of opportunity, secure cloud solutions must evolve. Only then can we build a future where technology empowers, connects, and protects everyone.
