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The green energy sector in India has taken off well under Prime Minister Narendra Modi’s government and Australian companies, with their top-notch technologies and research and development (R&D) expertise, can seamlessly fit into the Indian green supply chain and help it grow at scale, Australia’s High Commissioner to India, Philip Green OAM, said on Monday.

Speaking to IANS on the sidelines of the ‘India Energy Storage Week (IESW) 2024’ event in the national capital, Philip Green said Australian firms are well aware of the Indian opportunity in the green energy sector and are taking big notice of the overall growth.

“The Indian economy is growing very fast, which means a huge demand for new energy, and a large amount will have to be found from renewable sources,” said the Australian envoy.

"We are the producers of some of the most important minerals and metals for the green energy supply chain. Particularly, Australia is one of the biggest producers of critical minerals on the planet," he told IANS.

The High Commissioner to India also said there is a growing synergy between the two countries, especially in the area of green energy supply chain.

PM Modi has set a target to install 500 GW renewable energy capacity by 2030.

Abundant solar energy and local technology are aiding in achieving this target while reducing carbon emissions, according to the government.

Australia and India have joined forces to accelerate the production and deployment of renewable energy technologies that will create new economic opportunities, diversify global clean energy supply chains, and help reduce global emissions.

The focus is on scaling up the manufacturing and deployment of solar photovoltaic (PV) technologies, and clean hydrogen technologies, including electrolysers.

On May 24, 2023, India and Australia reiterated a shared ambition on green hydrogen with the exchange of the agreed terms of reference for the India-Australia Green Hydrogen Taskforce.