New Delhi: In line with the government’s commitment to bolster the adoption of renewable energy and facilitate the use of green hydrogen, the Ministry of New and Renewable Energy is actively developing modalities to support the integration of green hydrogen in achieving round-the-clock electricity generation. This initiative aligns with the goals outlined in the National Green Hydrogen Mission.
Union Minister for Power and New and Renewable Energy, Shri R. K. Singh, chaired a meeting on February 6, 2024, in New Delhi to discuss and strategize the use of green hydrogen in conjunction with other renewable sources, such as solar energy and wind energy, to ensure continuous power supply. Key officials from the Ministry of New and Renewable Energy, Ministry of Power, NTPC, Central Electricity Commission, and Solar Energy Corporation of India participated in the meeting.
During the discussions, participants explored potential options for leveraging green hydrogen as a storage medium to support round-the-clock power supply and meet peak power demands. The meeting delved into various mechanisms for providing government support to such projects, with a focus on the Contract for Difference (CfD) methodology. This approach entails calculating the difference between the market price and a predetermined “strike price.”
Shri R. K. Singh directed officials to draft scheme guidelines based on the economic viability, technological aspects, and prevailing and future market conditions within the green hydrogen and power sectors. The minister underscored the increasing power demand and emphasized the significance of round-the-clock renewable energy in driving down costs and ensuring affordability.
Furthermore, the Minister highlighted that insights gained from the initial projects in this realm would inform the development of larger-scale projects in the future. The government’s proactive stance in promoting green hydrogen aligns with broader efforts to accelerate the transition towards sustainable and environmentally friendly energy sources.
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