Amitabh Kant Bullish on Green Hydrogen Export Potential of India
The G 20 Sherpa informed that from the current levels of USD 5 per kilogram, the price of green hydrogen needs to be reduced to about USD 2.5 per kilogram in the next few years.
February 24, 2023. By Anurima Mondal
Addressing the gathering at the session on ‘G20 Leadership for a Green Development Pact’ at the World Sustainable Development Summit (WSDS), the G20 Sherpa said that the nation is ‘climatically blessed and has top class entrepreneurship’.
The 22nd edition of the World Sustainable Development Summit (WSDS) was organised from 22-24 February 2023 in New Delhi. The annual event is organised by The Energy and Resources Institute (TERI).
Amitabh Kant informed that from the current levels of USD 5 per kilogram, the price of green hydrogen needs to be reduced to about USD 2.5 per kilogram in the next few years. By 2050, the price should be brought down to USD 1.
The Indian government is aggressively focussing on the production of green hydrogen.
Earlier this year, National Green Hydrogen Mission was approved by the Union Cabinet with an initial outlay of INR 19,744 crore including an outlay of INR 17,490 crore for the Strategic Interventions for Green Hydrogen Transition (SIGHT) programme, INR 1,466 crore for the pilot projects, INR 400 crore for R&D, and INR 388 crore for other components.
Even in the recent post-budget webinar on green growth hosted by the Ministry of Power, Prime Minister Modi emphasized the Green Hydrogen Mission and said that such initiatives lay the foundation stone and pave the way for future generations.
Meanwhile, Kant informed that long-term lending of 25-30 years is required to produce green hydrogen on a long scale and added that developed countries have not been able to keep their commitment to providing USD 100 billion annually as climate finance to developing countries by 2020.
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