India, Germany sign agreement on green hydrogen TaskForce
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.
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