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Government Initiates Plans to Promote Green Hydrogen for Round-the-Clock RE
Officials engaged in detailed discussions on various options for utilizing green hydrogen as a storage medium to support round-the-clock power supply and meet peak demand.
February 07, 2024. By Abha Rustagi
In line with the government's commitment to promoting renewable energy adoption and harnessing the potential of green hydrogen, the Ministry of New and Renewable Energy is actively working on strategies to integrate green hydrogen into round-the-clock electricity solutions.
Union Minister for Power and New and Renewable Energy, R.K. Singh, chaired a meeting in New Delhi, focusing on leveraging green hydrogen alongside solar and wind energy to ensure uninterrupted renewable energy supply. The meeting brought together key officials from the Ministry of New and Renewable Energy, Ministry of Power, NTPC, Central Electricity Commission, and Solar Energy Corporation of India.
During the meeting, officials engaged in detailed discussions on various options for utilizing green hydrogen as a storage medium to support round-the-clock power supply and meet peak demand. Additionally, policy mechanisms to provide government support for such projects were deliberated upon, with a particular emphasis on the Contract for Difference (CfD) methodology. This approach entails calculating the difference between market prices and an agreed-upon 'strike price.'
Under the direction of the Union Minister, officials were tasked with drafting scheme guidelines based on economic viability, technological advancements, and prevailing market conditions in the green hydrogen and power sectors. Emphasizing the increasing power demand, the Minister highlighted the significance of round-the-clock renewable energy in driving down costs and enhancing affordability.
Furthermore, the Minister emphasized the importance of learning from initial projects to inform the development of larger-scale initiatives in the future.
Union Minister for Power and New and Renewable Energy, R.K. Singh, chaired a meeting in New Delhi, focusing on leveraging green hydrogen alongside solar and wind energy to ensure uninterrupted renewable energy supply. The meeting brought together key officials from the Ministry of New and Renewable Energy, Ministry of Power, NTPC, Central Electricity Commission, and Solar Energy Corporation of India.
During the meeting, officials engaged in detailed discussions on various options for utilizing green hydrogen as a storage medium to support round-the-clock power supply and meet peak demand. Additionally, policy mechanisms to provide government support for such projects were deliberated upon, with a particular emphasis on the Contract for Difference (CfD) methodology. This approach entails calculating the difference between market prices and an agreed-upon 'strike price.'
Under the direction of the Union Minister, officials were tasked with drafting scheme guidelines based on economic viability, technological advancements, and prevailing market conditions in the green hydrogen and power sectors. Emphasizing the increasing power demand, the Minister highlighted the significance of round-the-clock renewable energy in driving down costs and enhancing affordability.
Furthermore, the Minister emphasized the importance of learning from initial projects to inform the development of larger-scale initiatives in the future.
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