India has mentioned a potential deal to produce greater than 11 million metric tons a yr of inexperienced hydrogen to the European Union and Singapore, who in flip would put money into these Indian clear vitality initiatives, three authorities officers and one business supply stated.
Reuters reported on Tuesday that New Delhi will take into account bilateral agreements which might permit nations to make use of carbon credit linked to producing so-called inexperienced hydrogen, which is made utilizing renewable vitality.
India and the EU explored inexperienced hydrogen agreements for 10 million metric tons each year below which companies within the bloc may put money into initiatives in India and declare carbon credit, one of many officers, who attended a gathering on Wednesday in New Delhi, informed Reuters.
Singapore is trying to get 5 million metric tons each year of inexperienced ammonia by related bilateral agreements, which is equal to a different 1-1.5 million metric tons a yr of inexperienced hydrogen, one other official stated.
The officers didn’t give particulars on the size or the beginning yr of such contracts.
Inexperienced ammonia, usually the popular kind through which the gas is transported, is a inexperienced hydrogen spinoff.
Not one of the officers wished to be named as talks are ongoing.
India’s renewable vitality ministry, an Indian authorities spokesperson and a communications officer on the EU workplace in New Delhi didn’t instantly reply to requests for remark.
The conferences hosted by the Indian authorities on Wednesday have been additionally attended by Indian renewable firms together with Avaada Group, Renew Energy and ACME Group.
“The bilateral agreements being mentioned with the EU and Singapore current a big enterprise alternative for Indian Inexperienced Hydrogen producers,” Avaada Chairman Vineet Mittal stated.
Indian firms equivalent to Reliance Industries, Indian Oil and Adani Enterprises have large plans for inexperienced hydrogen.
Nations across the globe are turning to hydrogen to drive a transition away from fossil fuels to deal with world warming.
India final yr sought to additional its ambitions to turn out to be a serious inexperienced hydrogen exporter by the approval of a 174.9 billion rupees (USD 2.13 billion) incentive plan and a goal to provide 5 million tonnes of inexperienced hydrogen by 2030.
(USD 1 = 82.2050 Indian rupees)
