India has taken a new step in promoting green hydrogen and renewable energy projects by launching another project in Gandhinagar related to financing sustainable initiatives.

Energy storage will play a key role in achieving the National Green Hydrogen Mission’s goal of producing more than five million metric tonnes per annum by 2030.

Achieving this goal will be made possible by focusing on research and development to reduce the cost and improve the efficiency of energy storage solutions. This is reported by
Prensa Latina, a partner of TV BRICS.

Providing competitive and customised financial solutions will encourage investment in required projects in this area, he added.

India has taken proactive steps in this direction, including developing a roadmap for storage requirements till 2047, independent technology tenders and government measures to support battery manufacturing and pumped hydro projects, the renewable energy ministry said.

According to the ministry, the Central Electricity Authority of India has projected a storage requirement of nearly 400 gigawatt hours for the period 2030-2032.

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