India-Saudi Arabia Collaboration Aims to Catalyze Green Hydrogen Ecosystems: Minister
The MoU, signed on September 10, 2023, envisions collaboration in Hydrogen, Electricity, Grid Interconnection, Renewable Energy, Energy Efficiency and more.
December 13, 2023. By Abha Rustagi
The MoU, signed on September 10, 2023, envisions collaboration in Hydrogen, Electricity, Grid Interconnection, Renewable Energy, Energy Efficiency, Petroleum, Natural Gas, Strategic Petroleum Reserves, and Energy Security.
The Union Minister provided these insights in written replies to three separate questions in the Rajya Sabha.
This strategic partnership, further solidified by an additional MoU on October 8, 2023, aims to leverage the respective capabilities of both nations to foster the growth of Green Hydrogen ecosystems within their borders.
India's Ministry of New & Renewable Energy is actively implementing the National Green Hydrogen Mission, sanctioned by the Union Cabinet on January 4, 2023, with a substantial outlay of INR 19,744 crore spanning from FY 2023-24 to FY 2029-30.
By 2030, the National Green Hydrogen Mission targets include reaching a production capacity of 5 Mmt per annum, contributing significantly to reducing dependence on fossil fuel imports. The mission is expected to avert nearly 50 Mmt per annum of CO2 emissions and generate over INR 8 lakh crore in total investments, creating more than 6 lakh jobs.
The Mission incorporates provisions for supporting pilot projects in various sectors such as low-carbon steel, mobility, shipping, and ports. Financial measures, including the Strategic Interventions for Green Hydrogen Transition (SIGHT) Programme with an outlay of INR 17,490 crores, have been introduced to incentivize domestic manufacturing of electrolysers and Green Hydrogen production.
Notable provisions to promote the production and utilization of Green Hydrogen and its derivatives include the waiver of inter-state transmission charges for Green Hydrogen and Green Ammonia producers for projects commissioned before December 31, 2030.
Additionally, the Electricity (Promoting Renewable Energy through Green Energy Open Access) Rules, 2022, facilitate the supply of renewable energy through Open Access for Green Hydrogen production.
While acknowledging challenges such as the cost differential between Green and Grey Hydrogen, storage and transportation expenses, and the absence of established supply chains, Minister Singh emphasized India's advantages. These include competitive renewable energy tariffs and a single integrated grid that minimizes transport and storage costs.
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