Indian Economy News

The government is working on a policy mechanism to promote Green Hydrogen's use for Round-the-clock Renewable Energy.

The Ministry of New and Renewable Energy is actively shaping strategies to boost green hydrogen's role in achieving uninterrupted electricity, aligning with the National Green Hydrogen Mission. Chaired by Union Minister for Power and New and Renewable Energy, Mr. R. K. Singh's meeting in New Delhi on February 6, 2024, involved discussions with key stakeholders, exploring green hydrogen's potential synergy with solar and wind energy for round-the-clock renewable power supply. The meeting delved into mechanisms, including a Contract for Difference (CfD) approach, to garner government support for such projects.

During the session, Mr. Singh directed officials to draft scheme guidelines, emphasizing the economic and technological landscape. He stressed the importance of continuous renewable energy to lower costs and enhance affordability, anticipating that insights gained from initial projects would pave the way for more substantial initiatives in the future.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.