The MoU comes as steppingstone for ONGC to achieve its Energy Strategy 2040 targets of 10GW of renewable energy capacity by 2040 through acquisitions.
Falling in line with India’s National Hydrogen Mission which aspires to make the country a green hydrogen hub, the activities under the MoU hope to contribute towards India’s targets of producing five million tonnes of green hydrogen annually by 2030.
Read more: Indian PM unveils National Hydrogen Mission to cut emissions
Greenko, India’s ‘first dispatchable renewables company’ is no stranger to green hydrogen projects. In April this year (2022), it was announced that it was partnering with John Cockerill to develop a 2GW green hydrogen electrolyser gigaactory.
Read more: Greenko, John Cockerill partner to develop India’s ‘largest’ green hydrogen electrolyser gigafactory
Speaking previously, Mahesh Kolli, President and Joint Managing Director of Greenko, said, “Our deep decarbonisation solutions in hard to abate sectors like metals, petrochemicals, bulk transportation is a pathway towards achieving India’s Hydrogen Mission leading to energy independence.”
H2 View’s Hydrogen in India – Snap Summit
With the launch of its national hydrogen strategy in recent weeks and growing interest in India’s bold ambitions to de-leverage from traditional fossil fuel-based energy, H2 View stages a Snap Summit to address the country’s path forward in hydrogen.
India plans to manufacture five million tonnes of green hydrogen per annum by 2030 and not just meet its own climate objectives but become a production and export hub for the clean fuel.
Some sources question a lack of detail over the wider ecosystem while others still point to the country’s reliance on coal power. Yet, the world’s third-largest energy consuming country is already embracing renewable energy, its solar power sector is moving forward, and data suggests coal’s hold over India’s power sector is steadily loosening. The grid is already evolving.
The question is, how can a renewable energy powerhouse fast-track to true sustainability with green hydrogen? Join H2 View and a programme of global hydrogen leaders to unlock answers and insights for the short, medium, and long-term future in India.
Want to learn more? Click here.