Puri calls for accelerated timeframe for green energy development
Green hydrogen has the potential to be a US$12-US$13 trillion industry in India by 2050 and as such should be allowed to flourish and overcome the challenges faced by fossil fuel sector.
This was concluded during a consultation meet the Minister of Petroleum and Natural Gas Hardeep Singh Puri held with industry stakeholders on 4 July 2022.
The stakeholders deliberated upon ways to develop the entire green hydrogen ecosystem in a way that India is able to realise the country’s full potential to create a US$12-US$13 trillion industry by 2050 and transform into a dominant global energy supplier, the Ministry said in a release.
“Various ideas and opportunities were discussed with industry leaders. The participants enumerated the initiatives being taken by them in the sector,” it said.
Some of them also highlighted the issues that need to be addressed, added the Ministry.
Puri elaborated that when allowed to flourish, Green Hydrogen will overcome the challenges that were faced by the fossil fuel industry.
It will provide momentum to India’s journey towards energy independence by 2047.
“India has a huge edge in green hydrogen production, owing to its favourable geographic conditions and presence of abundant natural elements,” Puri highlighted.
“We are spending Rs.12 lakh crores to import the energy. So, we have to push the green hydrogen as an alternative source of energy,” the Minister pointed out.
Describing hydrogen as the fuel of the future, Puri emphasized on accelerated timeframe for the sector, noting that the oil and gas Public Sector Units have taken a number of pilot projects in the sector, some of which will start showing results this year itself.
He underlined, “India, being the large growing economy, is going to be the hub of Green Hydrogen.” fiinews.com
