India aims to accrue Rs 1 lakh crore of cumulative fossil fuel import savings by 2030. India is working with companies in countries like the UK and Germany for the domestic manufacture of electrolysers to make deployment of hydrogen as an affordable energy source
India’s Green Hydrogen policy is a revolutionary shift which is set to make India a global hub for green hydrogen and green ammonia production.
India has increased the ethanol blending in petrol from 1.53 per cent in 2013-14 to 10.17 per cent in July 2022, said Hardeep S. Puri, Minister of Petroleum and Natural Gas & Housing and Urban Affairs at the 11th edition of CII Bio-Energy Summit.
Puri said that setting up 2G refineries to make ethanol from Parali (Panipat) and Bamboo (Numaligarh) with the twin objective of reducing pollution along with achieving energy security goals is another milestone in this direction.
He said that India has laid down Green Hydrogen Policy with a production target of 5 million tonnes by 2030. India’s Green Hydrogen Policy announced in February this year is a revolutionary shift which is set to make India a global hub for green hydrogen and green ammonia production and India aims to produce 4 MT Green Hydrogen annually and accrue Rs 1 lakh crore of cumulative fossil fuel import savings by 2030, he added.
India is working with companies in countries like the UK and Germany for the domestic manufacture of electrolysers to make deployment of hydrogen as an affordable energy source, he added.
The Minister said that India is undertaking an ambitious journey of energy transition to achieve net carbon zero by 2070 and this transition has to be stable and ensure that it remains consistent. Our OMCs have come out with their respective net zero targets – Indian Oil Corporation Limited (IOCL) by 2046, Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) by 2040, which also means that Oil Marketing Companies (OMCs) are gearing up for the change in energy source and use, going forward, he added.