The minister also informed that the government will come out with a green hydrogen bid in the next four-five months and green hydrogen will be dollar denominated for a couple of years.
The Union Minister of Power and New and Renewable Energy, RK Singh said India proposes to green industry sectors to replace Grey Hydrogen with Green Hydrogen and for this it will come out with a Green Hydrogen Purchase Obligation for different sectors like petroleum and fertiliser.
The minister also informed that the government will come out with a green hydrogen bid in the next four-five months and green hydrogen will be dollar denominated for a couple of years.
Green hydrogen is produced using renewable energy and electrolysis to split water and is distinct from grey hydrogen, which is produced from methane and releases greenhouse gases into the atmosphere.
This will also provide huge demand for domestically manufactured solar and wind equipment as well as storage, the minister noted while addressing the conference of Confederation of Indian Industry (CII) on Aatmanirbhar Bharat – Self Reliance for Renewable Energy Manufacturing.
He also informed that the government proposes to come out with rules and regulations providing for easier Open Access for those industries that want to rely on green energy for their functioning.
Industry will be able to either set up green energy manufacturing capacity itself or through a developer and draw power from it through open access. The surcharge on open access will also be rationalised so as to ensure that open access is not saddled with unfair levies, Singh added.
Earlier this year in June, Union Minister RK Singh had said that purchase of green hydrogen will be made mandatory for certain sectors similar to renewable purchase obligation (RPO).
Under RPO, bulk purchasers like open access consumers, discoms and captive users are required to buy a certain amount of renewable energy out of their total electricity consumption.
Source: moneycontrol
