India to deal with EU and Singapore over Green hydrogen

India to deal with EU and Singapore over Green hydrogen

The European Union and Singapore might be investing in India’s clean energy projects as India has approached with a plan to supply more than 11 million metric tons a year of green hydrogen to European Union countries and Singapore.

The Government of India will consider bilateral agreements for allowing countries to use carbon credits linked to producing so-called green hydrogen. This can be used to produce & use renewable energy.

India explored Green hydrogen agreement with EU:

India and the EU have signed green hydrogen agreements for ten million metric tons per annum. It will grant businesses in the bloc for investing in projects in India and claim carbon credits.

Singapore’s plan with India:

Singapore is in search of getting 5 million metric tons per annum of green ammonia through similar bilateral agreements with India.

The agreement would be equivalent to another 1-1.5 million metric tons a year of green hydrogen.

Green ammonia is the preferred state of form for transporting the fuel and it is a green hydrogen derivative.

Opportunity for India:

The bilateral agreements are being in talks with the EU and Singapore will provide platform to India a significant business opportunity for Indian Green Hydrogen manufacturers.

Giant Indian companies such as RIL, IOC and Adani enterprises have made their projects for green hydrogen.

Countries around the globe are investing in hydrogen to use fossil fuels to address global warming.

India last year looked for expansion to its ambitions to become a major green hydrogen exporter through the approval of a 174.9 billion rupees ($2.13 billion) incentive plan and a target to produce 5 million tonnes of green hydrogen by 2030.

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