India will want a funding of USD 15 billion to set up 15 GW (gigawatt) of inexperienced hydrogen capacity by 2030, NITI Aayog Member V K Saraswat stated on Thursday.

He was talking at a convention ‘India@2030: A Roadmap for Aatmanirbhar Bharat in Renewable Energy’ organised by CII right here, a press release stated.

“India will require an estimated USD 15 billion in public and private funding to set up 15 GW of green hydrogen by 2030, V. K Saraswat, Member, NITI, Aayog said pointing out that green hydrogen is the future,” the CII stated.

Green hydrogen is the gas of the long run however its value continues to be prohibitive for sectors like fertilizer and refinery which want to use it, stated Saraswat stated.

In his deal with, the NITI Aayog member additionally instructed sure measures to scale back the price of inexperienced hydrogen.

Saraswat stated that “for the price of green energy to come down to USD 1/kg, 80 per cent reduction in cost of electrolyser is needed, electricity cost has to slash to 2 cents per kwh (kilowatt hour), electrolyser plant life must increase to 20 years and electrolyser efficiency must increase by 76 per cent.”

Kapil Maheshwari, President, New Energy, Reliance Industries Limited had just lately advised PTI that India is already a market of 6-7 million tonnes of inexperienced hydrogen.

Naresh Lalwani, Head of Strategy, Planning & Diligence,

had stated there’s a want to concentrate on manufacturing and the price of hydrogen which is at USD 3-4 per kg at current. Technologies to produce hydrogen at a low price should be developed and adopted.

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