Bhoomika Singh
When discussing the latest developments in Green Hydrogen production and import with industry stakeholders, Union Minister of Petroleum and Natural Gas Hardeep S Puri referred to it as the fuel of the future.
Puri believes that if given the opportunity to thrive, Green Hydrogen will overcome the challenges that the fossil fuel industry faced. He stated that it will accelerate India’s journey toward energy independence by 2047. “We are spending Rs. 12 lakh crores to import the energy. So, we have to push for green hydrogen as an alternative source of energy. India has a huge edge in green hydrogen production, owing to its favourable geographic conditions and presence of abundant natural elements.”
Puri emphasised an accelerated timeframe for the sector when describing hydrogen as the fuel of the future. He stated that the oil and gas PSUs have undertaken a number of pilot projects in the sector, some of which will begin to show results this year. The Minister stated that India, as a large growing economy, will be the Green Hydrogen hub.
The stakeholders discussed how to develop the entire green hydrogen ecosystem so that India can realise its full potential to create a US$ 12-13 trillion industry by 2050 and transform into a dominant global energy supplier. With industry leaders, various ideas and opportunities were discussed. The participants listed the initiatives they are undertaking in the sector. Some of them also highlighted the issues, that need to be addressed.
Rameswar Teli, Minister of State in the Ministry of Petroleum and Natural Gas, Secretary, MOPNG, Senior Officers of the Ministry and Oil & Gas PSUs, and other stakeholders also attended the meeting.
When SME Futures spoke with Gaurav Kumar Kedia, Chairman of the Indian Biogas Association, about the challenges facing India’s Green hydrogen sector, he explained, “At the moment, electrolyzers consume more energy than they produce. Furthermore, the electrolyzers are quite expensive, raising the overall project and product costs. Lowering the cost of green hydrogen production is not the only challenge in the green hydrogen industry, but it is unquestionably the most pressing right now.”
