Indian Renewable Energy Firms Look To Establish Green Hydrogen Plants Abroad
Date
6/21/2024 2:19:23 PM
(MENAFN- KNN India)
New Delhi, Jun 21 (KNN) In a significant push towards sustainable energy, leading Indian renewable energy companies are expanding their green hydrogen initiatives both domestically and internationally.
This move aligns with the global shift towards cleaner fuel alternatives and India's ambition to reduce carbon emissions.
Hero Future Energies (HFE) is evaluating green hydrogen plant deployments in the UK and Europe, partnering with Ohmium International to develop 1,000MW of production facilities.
Adani New Industries (ANIL) is exploring markets in Europe, Japan, and South Korea for green hydrogen and its derivatives, aiming to develop projects equivalent to 1 MMTPA of green hydrogen and 5.6 MMTPA of green ammonia by 2030.
Renew has signed an exploratory agreement with Egypt for a green hydrogen plant in the Suez Canal Economic Zone, while also pursuing domestic projects in Odisha, Maharashtra, and Andhra Pradesh.
Avaada Group is planning approximately 4 MTPA capacity of various green fuels and is in discussions with global offtakers.
However, the industry faces challenges. Vikram V, vice president at Icra, notes that green hydrogen's cost competitiveness remains weak at USD 4-5 per kg compared to grey hydrogen at about USD 2 per kg.
Despite this, he expects costs to improve with growing scale, technological advancements, and efficiency gains.
The sector's growth is largely driven by government policy support, reflecting India's commitment to reducing fossil fuel dependence. While many players have announced ambitious plans, progress is gradual, with pilot projects currently underway.
This expansion into green hydrogen production and international markets represents a significant step for India's renewable energy sector, potentially positioning the country as a key player in the global green energy transition.
(KNN Bureau)
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