Union Minister for Power and New and Renewable Energy Shri R.K Singh and German Minister for Economic Affairs and Climate Change HE Dr. Robert Habeck signed a Joint declaration of Intent on Indo- German Hydrogen Task Force virtually today.
Shri Singh stated that India is a world leader in energy transition and has the fastest growth rate for renewable energy capacity. His German counterpart was informed by Shri Singh that India has a transparent bidding process, an open market and a fast dispute resolution system. India is internationally recognized as one of the most desirable destinations for RE investment.
Shri Singh stressed that India is ambitious in its energy transition. By 2030, it will have 500GW more non-fossil fuel capacity. India is submitting bids for green hydrogen. The Minister also stressed the importance of developing storage to balance RE, such as pumped hydro or battery storage. India has already begun bidding for large quantities of electrolysers for Green Hydrogen production. He invited the German industry to participate in India’s development of this ecosystem.
The German Minister was impressed by India’s ambitious plans to expand RE and expressed interest in Indian opportunities for investment in offshore wind farm projects, given his German experience in the subject.
The agreement was signed today by both countries. It will create an Indo-German Green Hydrogen Task Force, which will strengthen bilateral cooperation in the production, utilization and storage of Green Hydrogen. This task force will also help to build enabling frameworks for projects and regulations, standards and trade, as well as joint research and development (R&D).
India launched the National Green Hydrogen Mission to become a global hub for Green Hydrogen production and trade. Germany has also developed a ambitious National Hydrogen Strategy to take global leadership in hydrogen technology. India is blessed with abundant renewable energy resources and extensive experience in implementing renewable energy projects. India can produce Green Hydrogen at a low cost to decarbonize various industries and export it to meet global demand. Germany has many hydrogen projects in the pipeline, thanks to its strengths in manufacturing and innovation.
The collaboration would be built on the trade of Green Hydrogen, and/or its derivatives like Green Ammonia/Green Methanol. The two countries would benefit from institutional collaboration in joint research, lighthouse projects, innovation clusters, and hydrogen hubs. Industries from both countries would be able to take advantage of the ambitious deployment targets and invest in them.
India and Germany have the same goal of decarbonizing their economies. Both countries are determined to create a national green hydrogen economy. Both countries share a long-term goal to reduce greenhouse gas emissions and preserve the environment. This will require a global increase in green hydrogen production and offtake. India and Germany support the establishment a global green hydrogen industry to help achieve the Paris Agreement goals. Both sides believe that closer cooperation and the use of individual strengths and capabilities can help achieve common goals.