Low-cost Finance is The Key to Accelerate Energy Transition: Amitabh Kant

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Speaking at Integrated Research and Action for Development’s (IRADe) webinar on Net-Zero strategies for India’s power sector, Shri Amitabh Kant, Chief Executive Officer, NITI Aayog said that low-cost finance is the key to accelerate energy transition.

India should accelerate wind and solar power installations and bring down costs radically for its green hydrogen plans, he said.

Wind installations need to be expedited which have been somewhat stagnant after 2017 due to the change in tariff regime, he expressed.

He said that India was poised to become a global hub for electrolyser manufacturing and green hydrogen products in near future only because the solar prices are low and should be further brought down.

The prices of green hydrogen need to come down to $2.5 per kg by 2024-25 and $1 per kg by 2030, he said.

He also said the India can export green ammonia to the far east countires including Japan and South Korea.

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