2022-06-06 12:55:00
INDIA'S HYDROGEN RISE
BLOOMBERG - June 6, 2022 - India plans to slash the production costs of green hydrogen to $1 a kilogram from $5-$6 currently to encourage industries to use cleaner energy and wants access to cheaper loans to hep fund that transition, a senior government official said.
The world’s third-largest carbon emitter put out a roadmap in February to become a hub for the production and export of green hydrogen -- made from water and renewable electricity, though the fuel is a long way from being commercially viable.
“Unless cheap finance is available to be able to rapidly enhance both renewable and non-renewable, this transition will be difficult to speed up for a long period of time,” said Amitabh Kant, chief executive officer of the government’s think tank Niti Aayog, in an interview with Bloomberg Television. “Finances at low costs are critical.”
New Delhi wants global funders including the World Bank to structure guarantee programs to help access funds at low rates, Kant said. Green hydrogen will be used to decarbonize “hard-to-abate” sectors like refiners, fertilizer makers and steel producers, he said.
India, one of the world’s biggest fossil fuel importers, is also seeking to cut its reliance on oil given its import bill is expected to almost double to $300 billion in the coming decade, Kant said.
The government is re-jigging policies after Prime Minister Narendra Modi announced plans in November to make the country a net zero carbon emitter by 2070 and 50% renewable energy user by the end of the decade.
It needs about $25 billion to create a domestic supply chain with national installed electrolyser capacity of 25 GW producing 5 MT of Green Hydrogen by 2030, according to the India Hydrogen Alliance, which counts Reliance Industries Ltd. and JSW Steel Ltd among members.
India will continue to focus on electrifying two and three-wheelers as well as public buses, Kant said. The government will not push for electrification of four wheelers in the Indian market given private sector interest, he said.
As it is, the costs of electrifying transport is expected to fall after India’s recent tender for more than 5,000 electric buses got bids at prices cheaper than diesel and combustion buses, Kant said.
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Earlier:
2022, June, 3, 12:55:00
INDIA OIL PRODUCTION WILL UP
India imported 54% of its oil needs and 56% of its gas needs in 2020. After coal (44%), oil represented 24% of the country’s total consumption in 2020, against 6% for natural gas. As of 2021, India's oil reserves are estimated at 4,530 mbl and its gas reserves at 1,372 bcm.
2022, June, 1, 10:15:00
INDIA OIL GAS INVESTMENT $4 BLN
India imported 84% of its oil needs and 54% of its gas needs in 2020. After coal (44%), oil represented 44% of the country’s total consumption in 2020, against 6% for natural gas.
2022, May, 30, 11:30:00
INDIA NEED COAL ANEW
It would be the first time since 2015 that Coal India has imported the fuel, highlighting efforts by state and federal officials to stock up to avoid a repeat of April, when India faced its worst power cuts in more than six years.
2022, May, 30, 11:25:00
INDIA'S COAL PRODUCTION ROSE BY 4.5%
The Siarmal mine, located in the state of Odisha (eastern India), will start producing 2-5 Mt/year and will ramp up its production capacity of 50 Mt/year in 5 to 7 years.
2022, May, 30, 11:20:00
INDIA NEED LNG
Currently, GAIL has a term LNG import deal in place with Gazprom's Singapore-based trading arm.
2022, May, 20, 11:40:00
INDIAN RENEWABLE 5.2 GW, $3 BLN
The project is set to reach a storage capacity of 5,230 MW and involves 10,800 MWh of daily storage capacity from a pumped-storage plant, with the integration of 3,000 MW of solar and 550 MW of wind capacity.
2022, May, 18, 12:05:00
INDIA'S OIL DEMAND UPDOWN
India's oil demand is expected to grow by 245,000 b/d year on year in 2022, revised up by about 20,000 b/d from an earlier outlook, due to better-than-expected demand trends.
