May 21, 2024
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RENEWABLE ENERGY

India unveils green energy policy, sets target

 

Reports from India states that the Asian country has set green hydrogen consumption targets for some industries, so as to generate demand for cleaner fuel in its quest to reach net zero by 2070, the government said on Friday, as it unveiled its policy for green energy.

India is one of the world’s biggest emitters of greenhouse gases, and this move was engineered with an approved plan of incentives worth more than $2 billion last week to develop a green hydrogen production capacity of 5 million tonnes a year by 2030, latest.

Being Asia’s third-largest economy, India wants to use green hydrogen to replace grey hydrogen, produced using gas, as it moves to decarbonise sectors such as oil and fertilisers.

The former is a zero-carbon fuel made by electrolysis, using renewable power from wind and solar to split water into hydrogen and oxygen.

As India’s top refiners, Indian Oil Corp, top power utility NTPC Ltd and conglomerates including Reliance and Adani group have announced plans to build green hydrogen facilities.

India has set a goal for its largest fleet operator, to gradually build hydrogen-powered shipping lines and the state-run Shipping Corp of India is set to retrofit at least two ships to run on green hydrogen-based fuels by 2027 it reports.

The state-run oil and gas companies that charter 40 vessels for fuel transport will also have to hire at least one ship powered by green hydrogen each year from 2027 to 2030.

India aims to end imports of ammonia-based fertiliser by 2034, replacing them with locally produced green ammonia-based soil nutrients.

The Indian government will also invite bids to set up two domestic green hydrogen-based urea and diammonium phosphate plants as reported.

Africa should tap from the development plan of India to facilitate a green economy driven by wealth creation and employment. With the highest youth demography among sister continents, Africa stands all the chances to lead the drive in zero-emission.

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