India, Germany sign agreement on green hydrogen TaskForce

Tags: National International Relations Popular

India and Germany agreed to form a task force on green hydrogen. Both the countries have signed a joint declaration in this regard.

• The Joint Declaration was signed by the Union Minister of Power and New and Renewable Energy RK Singh and Germany's Minister of Economic Affairs and Climate Change Robert Habeck in a virtual way.

• India has emerged as a global leader in energy transformation. India is at the forefront of the growth of renewable energy capacity in the world.

• India has a transparent bidding system, an open market, an accelerated dispute resolution system, and is globally regarded as one of the most attractive destinations for investment in Renewable Energy (RE).

• India has launched the National Green Hydrogen Mission with the goal of making the country a global hub for green hydrogen production and export.

• Trading in Green Hydrogen and/or its derivatives such as Green Ammonia/Green Methanol will form the cornerstone of the cooperation.

• Institutional cooperation in joint research, lighthouse projects, innovation clusters and hydrogen hubs will catalyze synergistic efforts of the two countries.

• Capacity of India in renewable energy sector

• India currently ranks fourth in renewable energy capacity globally. 

• India will add 500 GW of non-fossil fuel capacity by 2030.

• Presently the renewable energy capacity in India is 136 GW, which is 36% of the total energy capacity in India.

• Solar and wind energy are the main sources of renewable energy.

• Other alternatives such as biomass energy, methanol-based blending and hydrogen are considered the fuel of the future.