Page 11 - AsiaElec Week 11 2023

AsiaElec HYDROGEN AsiaElec

Green hydrogen subsidies needed

across India to keep costs down

India joins race for Asian dominance in green hydrogen

INDIA THE business head of the influential Indian renew- exploring collaborative opportunities with other
ables firm ReNew, Rahula Kashyapa, has said that nations to promote the production of green hydro-
the central government of Narendra Modi in New gen, a stronger push might be necessary” Kashy-
Delhi needs to introduce a system of subsidies to apa added referring to moves needed to back the
help keep production costs of green hydrogen down industry at home.
as the industry establishes itself. Kashyapa’s goal is, it is thought, to help make
Still viewed as a new technology and unproven India a focal point of green hydrogen exports in
power source in some circles in Asia, Kashyapa South Asia.
said in an interview with local media that “the cost As such, he suggested a removal of associated
of green hydrogen is more than double that of grey taxes and export duties for firms operating plants
hydrogen, and renewable energy costs amount to capable of producing green hydrogen for export.
60% to 70% of green hydrogen cost. Here, intro- “With our recent announcement of installing
ducing some form of subsidy for its production is India’s 3x platforms with wind turbine genera-
crucial to bring down the overall cost.” tors in Karnataka, we aim to have a total of 13.4
ReNew is already recognised as India’s largest GW. With more expansion plans in place, about
renewables company, with more than 13 GW of 1.5 GW of wind power projects are under con-
green power capacity. struction in parts of Karnataka, Maharashtra and
The firm is also known to be looking at imple- Gujarat, planned in financial year 2023, which will
menting a number of large-scale green hydrogen further boost our capacity” he said.
projects in a number of Indian states in addition Still a relative newcomer to green hydrogen
to overseas locations, including Egypt, where the production, India is pushing hard to keep up with
construction of a dedicated green hydrogen plant advances in the industry made in the north-east of
to pump out around 220,000 tonnes each year is in Asia in recent months, where Japan and China are
its early stages. competing to establish themselves as continental
“While we are off to a good start and are leaders in green hydrogen production.™

Week 11 15 •March•2023 www. NEWSBASE .com P11