According to the statement, the demand for green hydrogen will increase in this decade as the use of industrial raw materials.
Price parity between green and ‘gray hydrogen’ production will determine the pace and scale of change, according to the EY-SED Fund’s report titled ‘Green Hydrogen Economy’ at the Confederation of Indian Industry’s (CII) conference in Bengaluru. .
According to the report, India has a target of producing 5 million tonnes of green hydrogen by 2030. This would require 1,15,000 MW of renewable energy generation capacity and 50 billion mineral-free water supplies.
As of May 2022, the renewable energy generation capacity in the country was 1,13,000 MW.
Somesh Kumar, Partner and National Head (Power and Utilities), EY India, said, “The ongoing global crisis due to the COVID-19 pandemic and the Russo-Ukraine War is a reminder that energy imports and global supply chains are affected. How can India’s dependence on other related goods jeopardize its strategic interests? Low-carbon green hydrogen for use as an industrial raw material is a boon to the country’s long-term energy security, sustainability and self-reliance.
According to the report, the cost of Green Hydrogen Production and Storage (LCOH) currently stands at Rs 400 per kg. About 40-50 percent of this is from renewable energy power plants and 30 to 40 percent of electrolysis stack. Apart from this, other cost including mineral free water supply is 20 to 30 percent.
SED Fund deputy director Shivaram Krishnamurthy said, “The issue of making energy-intensive industries carbon-free is dependent on the competitiveness of the green hydrogen supply chain and favorable policy. The State Governments have an important role to play in implementing the recently notified Green Hydrogen Policy.
Source: navbharattimes.indiatimes.com
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