Singh assures of additional funds for transition to green energy
The Minister for Power and New and Renewable Energy R. K. Singh has underlined the Government’s thrust on energy transition and how this is important for the iron and steel sector as well.
He stressed that use of Green Hydrogen in steel making process can help the decarbonization of the sector.
He informed that the funds available under the Mission should be used to develop technology for integration of Hydrogen in the Steel making process.
If need arises, additional funds can be allocated, besides the Rs.455 crores already allocated for the steel sector under the National Green Hydrogen Mission, said the Minister.
“Our idea is to help you to transition. If we use green hydrogen, then carbon content becomes low; so, we need to think of ways and means of doing that,” he said at a meeting of government and industry stakeholders of the iron and steel sector in New Delhi on 24 Jan 2024.
The Minister added that in the wake of trade barriers being put up by developed countries, energy transition is important for competitiveness of the sector as well.
“Some manufacturers have already begun to experiment using green hydrogen in steel sector. The idea of this meeting is to decide the avenues in which the funds can be channelled to accelerate this transition, through a transparent selection process which also addresses the technology gaps which need to be addressed.”
The industry representatives also shared their concerns regarding the challenges faced for conducting trials. The possibility of executing projects by a consortium was also discussed.
The Minister directed that all efforts should be made to zero in on the right technology and pathways for decarbonization of the steel sector. Fiinews.com
