NEW DELHI: Union Petroleum Minister Hardeep Singh Puri emphasized the establishment of a robust ecosystem for advancing the development of Green Hydrogen in India.
During the Valedictory session of the International Conference on Green Hydrogen (ICGH-2023), Hardeep Puri highlighted the natural advantage India possesses in the production of Green Hydrogen, thanks to the abundance of solar energy and significant investments in our power grid. He expressed confidence in India's apt climate, abundant resources, efficient production capabilities, and a strong supply-chain dedicated to Green Hydrogen.
Puri emphasized that India's climatic blessings, coupled with the unwavering commitment of the government to create a sustainable world, have attracted the interest of leading financial institutions eager to invest in India.
He further announced the collaboration of major global financial institutions in supporting the development of Green Hydrogen. The European Investment Bank (EIB) pledged to be India's Hydrogen ally and committed 1 billion Euros to establish a large-scale industry hub. Additionally, the Asian Development Bank (ADB) expressed its intent to provide financial aid of 20-25 billion dollars over five years to support India's green growth aspirations. Notably, The World Bank approved a significant financing package of $1.5 Billion to facilitate India's transition to a low-carbon economy.
Highlighting the pivotal role of Public sector units, Puri emphasized their potential to promote the Green Hydrogen economy within the country.
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