The obligation for use of green hydrogen is important to create demand in India and without that it will be hard to get such capacities operational, Sumant Sinha, Chief Executive Officer of ReNew Power said.
“There is no market right now for green hydrogen [in India]. We need a mandate for that,” Sinha said on the sidelines of the India Energy Week.
Export of green hydro from India is going to be harder because there will be competition, he added.
As for the renewable energy company, it doesn’t have any target for green hydrogen yet because “there are too many unknowns at this point,” he said.
India had launched a green hydrogen mission in January aimed at bolstering and providing financial support to the manufacturing of electrolysers and green hydrogen.
The government has not put any mandate on use of green hydrogen by industries yet. The decision on it is likely to be taken in the future meeting of a group of secretaries.
“We are looking at mandates. Our company’s plans on green hydrogen will depend on what the obligations are” Sinha said.
On energy security and concentration of rare material for battery storage in some countries, Sinha said there are different technologies that will evolve through innovation and that will prevent us from getting dependent.
The company is already in joint venture with Indian Oil Corporation Ltd and Larsen & Toubro Ltd to develop a green hydrogen business.