Generous US and EU incentives will make it harder for India to achieve its green hydrogen goals, says minister
The Asian country will hold its first subsidised renewable H2 auctions this summer, but will be unable to match the support being offered by the West
India’s minister for power and renewable energy Raj Kumar Singh has criticised the West for its generous green hydrogen subsidies, as his country will find it harder to attract investment and compete on price.
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While the minister argues that India can generate renewable electricity at the lowest cost in the world, which gives it some advantage in green hydrogen production, the US is able to “print its money and rest of the world subscribes to it”.
“Despite the fact that we face so many barriers, we will become a champion in green hydrogen production as well,” Singh added bullishly.
The country had previously announced in its National Green Hydrogen Mission that it would aim to corner 10% of the global market for green hydrogen and ammonia by 2030.
“We need to make sure that the trade is free and open,” Singh said, adding: “We can’t have protectionism if we want the whole world to go green, and the whole world will have to go green, since one or two countries alone going green will not make a difference.”
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