New Delhi [India], July 8 (ANI): Union Petroleum Minister Hardeep Singh Puri on Friday said the Centre has put in an eco-system for the development of Green Hydrogen in the country.
Speaking at the Valedictory session of the International Conference on Green Hydrogen (ICGH-2023), Hardeep Puri said,” We have a natural advantage in producing Green Hydrogen as we have an abundance of solar energy and investments in our power grid. We have the apt climate, resources, adequate production and strong supply-chain for Green Hydrogen.”
“India is climatically blessed and with the government’s unwavering commitment to making the world a better place to live, the leading financial institutions have shown keen interest to invest in India,” he added.
He further stated that major financial institutions across the globe have committed to supporting the development of Green Hydrogen.
“The European Investment Bank (EIB) will be our Hydrogen ally and would support developing large scale Industry hub with a funding of 1 billion Euros. The Asian Development Bank (ADB) has recently conveyed its intent to provide 20-25 billion dollars over five years to aid India’s aspirations for green growth. That’s not all, The World Bank has approved $1.5 Billion in Financing to Support India’s Low-Carbon transition journey,” he said.
He also mentioned the importance of the role Public sector units can play in the country to promote the Green Hydrogen economy.
“The PSUs are focussed on ensuring a Hydrogen based economy. They have targeted to produce more than 1 MMT of Green Hydrogen by 2030. The global demand for hydrogen is expected to reach 200 million tons by the same time, basis the IEA report,” Puri said.
“We will ensure uptake of Green Hydrogen in refineries and City Gas Distribution (CGD) through both public sector entities and private sector and try to design new projects with maximum chances of hydrogen deployment to strategically phase out fossil fuels and aid decarbonization goals,” he added.
The three-day International Conference on Green Hydrogen (ICGH-2023) was organised from July 5 to July 7 2023 at Vigyan Bhawan in New Delhi. (ANI)