PSUs are the game changers for ensuring a smooth green hydrogen economy transition, he said, adding that they have targeted to produce more than 1 MMT of green hydrogen by 2030.
Saying that the global demand for green hydrogen will reach 200 million tonne by 2030, petroleum minister Hardeep Singh Puri on Friday said leading financial institutions have shown keen interest to invest in India.
“The European Investment Bank (EIB) will be our hydrogen ally and will support developing large scale industry hub with a funding of €1 billion. The Asian Development Bank (ADB) has recently conveyed their intent to provide $20–$25 billion 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,” the minister said.
PSUs are the game changers for ensuring a smooth green hydrogen economy transition, he said, adding that they have targeted to produce more than 1 MMT of green hydrogen by 2030.
He said India is fourth in terms of installed renewable energy capacity and has achieved some of the lowest long term levelised costs for solar and wind power generation.
The government has put in an ecosystem for development of green hydrogen and with support from private companies the government can fasten the process of achieving green hydrogen economy, he said.
Puri also said the entire country will have special fuel stations retailing E20 petrol by 2025, five years ahead of the 2030 target. E20 fuel is a blend of 20% ethanol with petrol.
The number of petrol pumps selling biofuels has increased three-fold from over 29,890 in 2016-17 to more than 67,640, he said, adding that the ministry will be launching a global biofuel alliance later this month.
https://www.financialexpress.com/market/commodities/global-interest-in-indias-clean-energy-hardeep-singh-puri/3160749/
