Invest in research, innovation to cut green hydrogen cost: Ireda CMD

06 Oct 2023 CW Team

During his address at the AtoZero (Accelerate to Net Zero) ASEAN Summit in Kuala Lumpur, Pradip Kumar Das, CMD of state-owned Ireda, emphasised that reducing the cost of producing green hydrogen is achievable through investments in research, development, and innovation. The Ministry of New and Renewable Energy (MNRE) revealed in a statement that Das stressed the significance of these investments in discovering cost-effective methods for green hydrogen production.

He further suggested the optimisation of economies of scale in transportation, including pipelines and liquefaction, as well as storage facilities through the establishment of hydrogen hubs. These hubs, he believed, would encourage the enhanced utilisation of infrastructure, thereby advancing the green hydrogen sector.

Additionally, it was noted that the Indian Renewable Energy Development Agency (Ireda) had established a pavilion at the event, inaugurated by Deputy Prime Minister of Malaysia Datuk Seri Fadillah Yusof. Das stated that Ireda is anticipating its initial public offering (IPO) to allow the company to expand its capital base, fulfilling its future capital needs and enabling onward lending. Ireda, operating under the Ministry of New and Renewable Energy, functions as a non-banking financial institution. Its primary focus lies in promoting, developing, and providing financial assistance for the establishment of projects related to new and renewable energy sources, energy efficiency, and conservation.

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