07-10-2023 10:29 AM | Source: Accord Fintech
Government put in eco-system for development of Green Hydrogen in the country: Hardeep Singh Puri
News By Tags | #960 #248 #857 #4221 #607

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel


Download Telegram App before Joining the Channel

Union Petroleum Minister Hardeep Singh Puri said the Centre has put in an eco-system for the development of Green Hydrogen in the country. He said  ‘We have a natural advantage in producing Green Hydrogen as we have an abundance of solar energy and investments in our power grid. We have the apt climate, resources, adequate production and strong supply-chain for Green Hydrogen.’

He stated India is climatically blessed and with the government's unwavering commitment to making the world a better place to live, the leading financial institutions have shown keen interest to invest in India. Further, he said that major financial institutions across the globe have committed to supporting the development of Green Hydrogen.

Besides, he mentioned ‘The European Investment Bank (EIB) will be our Hydrogen ally and would support developing large scale Industry hub with a funding of 1 billion Euros. The Asian Development Bank (ADB) has recently conveyed its intent to provide 20-25 billion dollars over five years to aid India's aspirations for green growth. That's not all, The World Bank has approved $1.5 Billion in Financing to Support India's Low-Carbon transition journey.’ He also mentioned the importance of the role Public sector units can play in the country to promote the Green Hydrogen economy.