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Dailyhunt | India takes lead in green hydrogen space, aims to hold 25% market share in 5 years: PM Modi | India Energy Week 2023

Feb 06,2023

India is taking a lead in the green hydrogen space and will replace grey hydrogen to increase its share to 25 percent in the next five years, Prime Minister Narendra Modi said at the India Energy Week (IEW) on February 6. India has the biggest class of aspirational population and energy will play an important role in fulfilling the aspirations of India, he said.

The IEW, being held from February 6 to 8, will showcase India's rising prowess as an energy transition powerhouse. The event will bring together leaders from the traditional and non-traditional energy industry, governments, and academia to discuss the challenges and opportunities that a responsible energy transition presents. PM Modi inaugurated the IEW 2023 in Bengaluru, Karnataka ahead of launching multiple initiatives in the field of green energy. "The energy landscape has undergone significant shifts in recent years.

The government is prepared to play a catalyst in accelerating adoption of low-carbon options, including biofuels, electric vehicles, and green hydrogen. Collaboration and transition towards low-carbon energy is crucial in India's achievement of its climate change targets," said Hardeep Singh Puri, Union Minister for Petroleum and Natural Gas, and Housing and Urban Affairs. Also Read
Budget 2023: In green energy push, battery storage gets funding boost

"To ensure smooth supply of green energy, the government has announced an allocation of Rs 35,000 crore in the country's 2023-24 Budget. The government is implementing many programmes for green fuel, green energy ... green equipment, and policies for efficient use of energy across various economic sectors. We are adopting several initiatives and next generation infrastructure for energy transition and security," Puri said, adding that the growing energy appetite will be met through a healthy mix of energy sources.