Additional funds for steel sector under National Green Hydrogen Mission, if required: R K Singh
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The Union Power and New & Renewable Energy Minister R K Singh has assured stakeholders that additional funds will be allocated for decarbonisation of the steel sector under National Green Hydrogen Mission, if required. He also said that the funds available under the mission should be used to develop technology for integration of hydrogen in steel making. He said some manufacturers have already begun to experiment using green hydrogen in the steel sector. The idea of this meeting is to decide the avenues in which the funds can be channelled to accelerate this transition, through a transparent selection process which also addresses the technology gaps which need to be addressed.
The minister also assured the stakeholders that if need arises, additional funds can be allocated, besides the Rs 455 crore already allocated for the steel sector under the National Green Hydrogen Mission. The industry representatives shared their concerns regarding the challenges faced by them for conducting trials. The possibility of executing projects by a consortium was also discussed. The minister said that all efforts should be made to zero in on the right technology and pathways for decarbonisation of the steel sector.
He underlined the government's thrust on energy transition and how this is important for the iron and steel sector as well. He stressed that use of green hydrogen in steel making can help decarbonise the sector. He also stated that in the wake of trade barriers being put up by developed countries, energy transition is important for competitiveness of the sector as well.
