India offers immense hydrogen opportunities and is expected to attract up to $150 billion in investment, an RIL official said on Wednesday.
The industry has the potential to generate hundreds of thousands of employment opportunities, Kapil Maheshwari, President, New Energy, Reliance Industries Limited, told PTI on the sidelines of the BNEF Summit.
Asked about the investment potential of the hydrogen sector, he said: “Opportunities exist. We (India) are already a 6-7 million ton market which is not small. In 10 years, 150 to 200 billion dollars could come (as an investment) and thousands of jobs will be generated. Earlier, industry players during a panel discussion on “India’s Hydrogen Opportunity”, pointed to the taking of some measures in the form of “penalties and taxes” by the government to create demand. hydrogen in India.
“Government should do something to create demand for hydrogen by imposing bonds, carbon taxes, penalties until the market adopts it,” Maheshwari said.
Also, there is a need to put in place policies that remain uniform in nature as this will boost investor confidence, he said.
“Make policies that are certain. No uncertainty in policies or changes so that an investor has confidence that this is where I am investing and will get my return on investment,” Maheshwari said.
Naresh Lalwani, head of strategy, planning and due diligence at JSW Steel, said there is a need for public funding for the creation of the hydrogen ecosystem.
He also said there was a need to focus on the production and cost of hydrogen, which is currently $3-4 per kg. Technologies to produce hydrogen at low cost must be developed and adopted.
Speaking on the use of hydrogen in steelmaking, he said: “If steel is produced with hydrogen at 3-4 USD per kg, the price of steel will be multiplied by six.
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