Statkraft, Deendayal Port Partner for Green Hydrogen

Statkraft, a renewable energy developer, and the Deendayal Port Authority (DPA) have signed a non-binding Memorandum of Understanding (MoU) to explore potential sites for establishing green hydrogen production facilities at Kandla port in Gujarat. The agreement, inked during the Global Maritime India Summit 2023 in Mumbai, marks the initial step in the development of a future green hydrogen hub at Deendayal Port. India is currently a significant consumer of grey hydrogen, consuming around seven million tonnes annually, making it the world's second-largest hydrogen consumer. As India strives to achieve its net-zero emissions target by 2070, green hydrogen demand is expected to increase in one of the world's fastest-growing economies. This transition will play a vital role in reducing greenhouse gas emissions, particularly in hard-to-abate sectors such as steel, cement, and refineries. Green hydrogen can serve as a sustainable alternative to gray hydrogen, coal, and natural gas in various applications. India's hydrogen demand is projected to reach 12 million tonnes by 2030 and approximately 28 million tonnes by 2050, further emphasising the significance of green hydrogen in the nation's energy landscape.