Green hydrogen a priority for renewable energy players like Adani and Siemens
As the world turns away from the relative safety afforded by fossil fuels in a bid to cut down on carbon emissions, global businesses are scrambling to invest in green technology. India, one of the fastest developing nations, has made impressive strides when it comes to renewable energy. Stakeholders like Tata Power, Adani, Siemens, and ReNew Power have all had a hand in India’s success story.
Adani Group was recently in the news for achieving its set target of renewables portfolio. Gautam Adani, Chairman of the group, revealed during a virtual session of India Global Forum 2021 that the Adani Group had realized its goal of setting up 25GW of renewable energy (RE) capacity. The achievement is even more impressive considering that it was pulled off four years ahead of schedule. The Group’s RE arm, Adani Green Energy Ltd., is a major stakeholder when it comes to green energy in India, with a portfolio spanning numerous wind power plants, solar plants, and hybrid projects across the country.
Adani mentioned that the Group would continue to invest in clean energy technologies like green hydrogen and renewables-powered data centers. Of interest, is the Group’s focus on green hydrogen as indicated by supremo, Gautam Adani. Siemens has, as a matter of fact, released a white paper on green hydrogen and how it could be produced by wind power plants without greenhouse emissions. This opens the door to a lot of possibilities; wind power projects of RE companies like Adani could be used for the production of green hydrogen.
India is not new to green hydrogen. It already consumes around 6Mt of hydrogen annually. However, the proposed findings by Siemens could transform the industry. Given India’s cheap renewable tariffs, green hydrogen is a feasible alternative to its energy imports. A recent study conducted by the Global Hydrogen Council classified India as a potential net exporter of green hydrogen from 2030. This will allow Indian companies to capture new avenues of growth.
The shift from traditional power sources to alternative ones is happening at a rapid pace. Despite the pandemic, India’s RE sector has witnessed growth by leaps and bounds. The adoption of new technologies like green hydrogen will provide new opportunities for players like Adani and Siemens to explore uncharted waters.