India is well-positioned to spearhead the global green energy sector, thanks to its advantages in producing Green Hydrogen. Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri, highlighted this potential during his address at the 2nd International Conference on Green Hydrogen on Wednesday, September 11.

Puri noted that India benefits from low-cost, abundant solar energy and significant investments in its power grid. The country has one of the largest synchronous grids globally, capable of handling intermittent renewable energy sources. Moreover, India's installed solar capacity has surged from 2.6 GW in 2014 to 85.5 GW today.

The Union Minister emphasized that India is on track to meet the rising global demand for green energy and domestic needs across various sectors. He projected that investments exceeding Rs. 30 lakh crores are anticipated to achieve the target of 500 GW by 2030. Multilateral development banks have committed up to USD 27 billion to support India's green growth ambitions.

Puri added that India's engineering talent will facilitate a smooth transition to a greener economy, positioning the country as a key player in the green hydrogen market. The government has introduced a Green Hydrogen Policy with a production target of 5 million tonnes by 2030 and is advancing renewable energy capacity. The Cabinet has approved the National Green Hydrogen Mission, with an initial budget of Rs. 19,744 crores.

Under this policy, manufacturers of Green Hydrogen and Green Ammonia will benefit from incentives such as the waiver of inter-state transmission charges for 25 years for projects commissioned before June 30, 2025. This is expected to accelerate production.

Puri forecasted that meeting the mission targets could cut fossil fuel imports by Rs. 1 lakh crores by 2030, generate investments exceeding Rs. 8 lakh crores, and create over 6 lakh jobs.

He also pointed out that the global value chain for Green Hydrogen is still developing. India needs to address issues like green financing, hydrogen trade routes, human resource upskilling, and support for start-ups, alongside regular production, storage, and transport concerns.

Puri called for collaborative efforts from all stakeholders to establish India as the global hub for green hydrogen.

Pralhad Joshi, Union Minister for New and Renewable Energy, echoed this sentiment, stating that green hydrogen is crucial for sustainability. "India is advancing to become a major player in the green hydrogen market, which is why we launched the Green Hydrogen mission. Integrating green hydrogen into India's energy mix and industrial processes will enhance our global position while achieving environmental and social objectives," Joshi said.

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