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India to develop into international hub for inexperienced hydrogen Modi

Speaking on the G20 power ministers? assembly in Goa, the Indian prime minister shared his authorities’s power transition plans

Prime Minister Narendra Modi has mentioned India is ramping up its efforts to make sure sustainable progress throughout its power transition, changing fossil fuels with renewables and turning into a hub for so-called inexperienced hydrogen, generated from wind, water and solar energy.

“We achieved our non-fossil, installed electric capacity target nine years in advance. We have now set a higher target, we plan to achieve 50% non-fossil installed capacity by 2030”, he advised the G20 power ministers’ assembly in Goa.

Prime Minister Modi famous that India is among the many international leaders in photo voltaic and wind energy. In 2021, the nation dedicated to chop its emissions to web zero by 2070. Modi went on to stipulate India’s efforts in growing expertise and infrastructure for the power transition.

“For decarbonising India we are working on a mission of green hydrogen alternative”, he mentioned. “That aim is to make India a global hub of production and export of green hydrogen and its derivatives. We are happy to share our learnings.”

India’s National Green Hydrogen Mission was unveiled by the Modi authorities in 2022 with a goal of manufacturing 5 million tons of renewable hydrogen by 2030 and securing a ten% market share of the worldwide hydrogen commerce.

Earlier this yr, New Delhi authorized an almost 175 billion-rupee ($2.1 billion) program to incentivise inexperienced hydrogen gas producers, protecting at the least 10% of their prices. New Delhi can also be contemplating bilateral agreements with a number of international locations to commerce inexperienced hydrogen. Power Ministry officers advised the media final week India and Japan will probably be discussing establishing a joint credit score mechanism to allow patrons of inexperienced hydrogen to obtain carbon emission credit generated from the manufacturing of inexperienced hydrogen.

Addressing the G20 by way of a video hyperlink, Modi additionally pressured the necessity to assist international locations of the ‘Global South’ of their efforts to safe financial progress whereas lowering their carbon footprints. “The world looks up to this group [G20] to advance a sustainable, just, affordable, inclusive and clean energy transition, and while doing this it’s important that our brothers and sisters in the Global South are not left behind,” he mentioned, urging the grouping to make sure low-cost financing for growing international locations, and to search out methods to bridge expertise gaps for power safety.

Modi additionally highlighted, amongst different authorities initiatives concentrating on inexperienced progress, that India has rolled out a cleaner-burning model of petrol, dubbed E20, or petrol blended with 20% ethanol, and the goal is to have particular gas stations retailing E20 gas throughout the nation by 2025.

The 14th Clean Energy Ministerial and eighth Mission Innovation Meeting kicked off in Goa on Friday beneath the chairmanship of R. Okay. Singh, India’s Minister for Power and New and Renewable Energy, and with the participation of ministers of greater than 30 international locations. Addressing the assembly, Singh mentioned that whereas India’s per-capita carbon emissions are a lot decrease than the world common – round 2.29 tons in opposition to 6.3 tons globally – the nation has centered on chopping fossil gas consumption and growing renewable power era. “We have set targets to meet 50% of our energy requirements from non-fossil sources by the year 2030. India will achieve more than its target of generating 500 GW renewable energy by 2030,” he pledged.