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    We want to emerge as a green energy exporting hub: RK Singh, Power Minister

    Synopsis

    “We have provided that the manufacturers of green hydrogen and green ammonia may set up their own renewable energy capacity anywhere they want and we shall give them free transmission from that place to the place of manufacture of green hydrogen and green ammonia.”

    New Delhi, Dec 20 (ANI): Union Minister of Power and New and Renewable Energy R....ANI
    “Free transmission will be given for all the capacity which is set up by 2025, the first phase. And free transmission will be available for 25 years from the date of grant. That is a major concession. The other thing which we have provided is that we shall provide open access, says power minister RK Singh.

    The first part of the Green Hydrogen policy has been announced. What will you like to add?
    This is what the Ministry of Power and the Ministry of New Energy could do within their own sphere. A large policy is under examination by the Expenditure Finance Committee. In this, whatever facilities we could provide within the ministry, we have provided. Green hydrogen means hydrogen made from renewable energy and green ammonia means ammonia made from renewable energy.

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    We have provided that the manufacturers of green hydrogen and green ammonia may set up their own renewable energy capacity anywhere they want and we shall give them free transmission from that place to the place of manufacture of green hydrogen and green ammonia. They can also get the capacity set up by a developer and even then, we shall give them free transmission or they can buy renewable energy through the exchange. Again, we shall give them free transmission.

    The free transmission will be given for all the capacity which is set up by 2025, the first phase. And free transmission will be available for 25 years from the date of grant. That is a major concession. The other thing which we have provided is that we shall provide open access. Open access will be provided within 15 days of the application being submitted and the open access will not come with additional surcharge, etc.

    Third, we will provide for banking or storage facility for 30 days and that will also help bring down the cost of power which is the main input in this. We have provided that they will get connectivity on priority. We have also provided that they can get connected straight away to the ICS and all this will make operations and setting up capacity simpler.

    In order to make sure that there is ease of doing business, we are providing a centralised portal, with the Ministry of New and Renewable Energy so that any application for connectivity and open access can be filed so that they do not have to run from one office to another. Once it is filed, it will be pursued by the ministry which will make sure that all the permissions are made available within the time limit specified in this.

    You have mentioned that the manufactures can purchase renewable energy through exchanges. So will there be any provision for them that they can sell their green hydrogen through exchanges?
    No we have not provided for that in the exchanges yet. This exchange is only for electricity. For green hydrogen, there is already an emerging market and this emerging market is huge. We see demand emerging from all over Europe, Japan, etc, and this demand will multiply because all the developed countries have given net zero targets. In order to meet net zero targets, they will need green hydrogen and green ammonia and what better place to procure from than India? We have the wherewithal. We have the technology. We already have the electrolyser manufacturing facilities and the facilities which we are giving. Our green hydrogen will be competitive.

    You have mentioned that you are getting a lot of responses from countries like Germany, Japan…
    Basically that is where the demand is emerging. Developed countries are already reaching out and trying to get into agreements with different companies around the world for supply of green ammonia and green hydrogen. I want our companies to step forward and be the companies to supply that green hydrogen made in India or green ammonia made in India. I intend to have a meeting with all the major industries and I intend to tell them that these are the facilities which we have announced; go ahead and start manufacturing it; get into agreements to export green hydrogen from here to different countries.

    What would be the target that you are going to achieve?
    My target is to emerge as an exporting hub and that is why we have also provided for bunkering facilities at the ports for green hydrogen and green ammonia. This is after discussions with the Ministry of Shipping. So anybody setting up green hydrogen manufacturing capacity or green ammonia manufacturing capacity for export will get land for the bunkers near the ports.

    On the second phase of this policy, you mentioned about the VGF. So where does this policy stand?
    RK Singh: Basically, it is under consideration of a committee called the Expenditure Finance Committee. We expect the Expenditure Finance Committee to take this up very quickly and hopefully it will be cleared. Once that happens, there will be more facilities which we can give to the manufacturers.

    There will be a mandate. Under the proposed policy, we have asked for mandates so that all the industries which are using grey hydrogen or grey ammonia will gradually switch over to green hydrogen and green ammonia.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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