By: ICN Bureau
Last updated : May 04, 2022 9:13 am
This will strengthen mutual cooperation in production, utilization, storage, and distribution of green hydrogen through building enabling frameworks for projects, regulations and standards, trade and joint research and development (R&D) projects
The Union Minister for Power and New and Renewable Energy R. K. Singh and German Minister for Economic Affairs and Climate Change Dr. Robert Habeck signed a Joint declaration of intent on the Indo-German Hydrogen Task Force virtually.
As per the agreement, both countries will establish an Indo-German Green Hydrogen Task Force to strengthen mutual cooperation in production, utilization, storage, and distribution of green hydrogen through building enabling frameworks for projects, regulations and standards, trade and joint research and development (R&D) projects.
R. K. Singh informed that India has emerged as one of the world leaders in energy transition with the fastest rate of growth of renewable energy capacities in the world.
He told his German Counterpart that in India we have a transparent bidding system, an open market, an expeditious dispute resolution system, and we are globally acknowledged as one of the most attractive destinations for investment in Renewable Energy (RE).
Singh emphasized that India has huge ambitions in energy transition and it will add 500 GW of non-fossil fuel capacity by 2030 and is coming out with bids for green hydrogen.
The Minister further stressed on the need for developing storage for balancing RE such as pumped hydro and battery storage. It will also need large capacities of electrolysers manufacturing for green hydrogen for which India is already planning bids.
He invited German industry to come and compete to develop this ecosystem in India.
The German Minister appreciated India's ambitious plans for RE expansion and expressed his interest in opportunities for investment in offshore wind farms in India given German expertise in the same.
India has launched the National Green Hydrogen Mission with the goal to make India the global hub of green hydrogen production and export. Germany also has developed an ambitious National Hydrogen Strategy with the aim to assume global leadership in hydrogen technologies.
Blessed with abundant renewable energy potential and experience of implementing renewable energy projects, India can produce low-cost Green Hydrogen to progressively decarbonize a range of industry sectors, and also export it to meet global demand. With strengths in innovation and manufacturing, Germany is already implementing numerous hydrogen projects.