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India in talks to supply 10 million tonnes of green hydrogen to EU: Report
- India will consider bilateral agreements with countries to allow them to use carbon credits linked to the production green hydrogen, or hydrogen made using renewable energy, in India in exchange for investment and purchase deals.
India has hosted talks on a possible deal to supply 10 million metric tonnes of green hydrogen to the European Union (EU), which in turn would invest in one such clean energy project in India, sources told news agency Reuters. According to an earlier report, India will consider bilateral agreements with countries to allow them to use carbon credits linked to the production green hydrogen, or hydrogen made using renewable energy, in India in exchange for investment and purchase deals.
Under the plan, EU businesses could invest in the projects in India and claim carbon credits, according to one of the officials, who attended a meeting that took place on Wednesday in New Delhi. The meeting was attended by officials from EU governments and Indian renewable companies, including Avaada Group, Renew Power and ACME Group.
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Countries are turning to hydrogen to drive an energy transition from fossil fuels across the globe and attempts to address global warming. Last year, India last year sought to further its ambitions to become a major green hydrogen exporter through the approval of a 174.9 billion rupees ($2.13 billion) incentive plan.
The government is hosting the International Conference on Green Hydrogen (ICGH-2023) in New Delhi from 5-7 July, 2023. The conference aims to bring together global leaders in scientific research, policy-making, academia, and industry to discuss advancements and emerging technologies in the green hydrogen sector.
Organized by the ministry of new and renewable energy in collaboration with the ministry of petroleum and natural gas, council of scientific and industrial research, office of the principal scientific advisor to the government, and the Confederation of Indian Industry (CII), the conference seeks to foster a sustainable ecosystem in the green hydrogen sector.
The government had approved the National Green Hydrogen Mission earlier this year, under which it plans to achieve five million metric tonnes (MMT) of green hydrogen production by 2030. “The recently launched National Green Hydrogen Mission, with an outlay of ₹19,700 crore, will facilitate transition of the economy to low carbon intensity, reduce dependence on fossil fuel imports," said Finance Minister Nirmala Sitharaman while presenting Budget 2023.
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Business NewsEconomyIndia in talks to supply 10 million tonnes of green hydrogen to EU: Report
First Published:5 Jul 2023, 07:42 PM IST
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