India to launch pilot project using Green Hydrogen as storage for round the clock power: Union Minister for New & Renewable Energy Mr RK Singh

CII-EY launch energy transition dashboard, report on RE manufacturing

Union Minister of Power and New & Renewable Energy Mr R K Singh has said India will soon launch a pilot project for producing 100 MW of round the clock (RTC) power using green hydrogen as storage.

India will be the largest producer of green hydrogen and ammonia in the world and the largest exporter because it has the cheapest renewable power, he said adding that the country has already amassed substantial manufacturing capacity for green hydrogen, positioning itself as a global leader in this burgeoning sector.

Speaking at the Fourth International Conference & Exhibition on Clean Energy, organised by the Confederation of Indian Industry and the Ministry of New & Renewable Energy, themed Global Champions for Advancing Clean Energy: Innovation & Manufacturing, Mr Singh said India was set to benefit from an investment pipeline worth nearly $250 billion, largely attributable to the growing interest in renewable energy and green hydrogen. “This substantial investment is poised for further expansion in the future.”

Mr Sanjiv Puri, President Designate, CII And Chairman & Managing Director, ITC Limited said, “MSMEs constitute a crucial economic component in our nation, serving as significant generators of employment. It is equally imperative to integrate MSMEs into the sustainability paradigm. Collaboration with large anchor players within the supply chain is pivotal, aiming to empower MSMEs. Treating them akin to valued partners, like esteemed clients, is vital. For instance, when a major corporation invests in renewable energy sources, extending the same benefits to MSME partners enables a platform for enhancing their competitiveness while concurrently facilitating their transition towards a lower-carbon footprint”.

The minister also unveiled a CII-EY report on AatmaNirbhar Bharat in RE manufacturing. The report focuses on India’s energy transition which is gaining momentum with potential to emerge as a global champion for advancing renewable energy innovation and manufacturing. Building local manufacturing capacities can help reduce dependence on imports and build supply chain resilience for India and the rest of the world. The report puts forth the demand and supply chain dynamics of renewable energy technologies, government initiatives, and policy interventions for building further momentum.

The minister also released a dashboard on “Energy Transition Investment Monitor: The Energy Transition Investment Monitor” which is a collaborative analytics platform that tracks over 900 projects in the pipeline across renewable energy services and technology supply chains. These investment opportunities have tremendous potential for economic development and contribute towards India’s long–term climate action goals and energy security objectives.

In his address, Mr Rajiv Memani, vice-president, CII and chair India Region and chairman Emerging Markets Committee, EY, suggested that the government could look at the PPP model in setting up desalination plants for using water for producing green hydrogen through electrolysis process.

15 September 2023

New Delhi