Union Minister Dr Jitendra Singh said that India has the potential to become Global Hub of Green Hydrogen in near future.
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.
Dr Jitendra 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.
He informed that the Government is already encouraging adaptation of Hydrogen fuels and technology for the mobility sector and many industries like Steel, Cement, and Glass Manufacturing Industries have already started using Hydrogen for heating requirements.
Dr Jitendra Singh said, 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.
The Minister said, by 2030, 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. He said, Government is ready to provide support to all the stakeholders to realize this goal.
Dr Jitendra Singh said, an aspirational goal for country is “Hydrogen 212”. He explained the meaning of Hydrogen 212 as Green hydrogen generation cost of less than 2 $/ kg, Green hydrogen storage + distribution + refueling cost of less than 1 $/ kg and Replacement of incumbent end-use technology with green hydrogen technology with ROI of less than 2 years.
Dr Jitendra Singh 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.