BHUBANESWAR: Odisha government on Saturday urged all stakeholders of green hydrogen sector to work in tandem with a focus on viability of projects. Speaking at Green Hydrogen Convention 2023 organised by CII-Odisha chapter, principal secretary of Industries department Hemant Sharma said unless the projects make money for everyone involved, they cannot thrive in the long run. Value unlocking is the key to success of green hydrogen projects.
“Technology is there and we need to execute the projects on an industrial scale basis. As an energy intensive state, Odisha requires more green energy to decarbonise industries. Green energy is a thrust sector for the state. We are providing a 30 per cent capital investment subsidy without any upper limit for all costs required sans the cost of land, rebate on electricity bill etc, which will increase the earnings before interest, taxes, depreciation, and amortisation (EBITDA) by 7.2 per cent,” he said.
The Industries secretary said the government is open to all sizes of investments in green hydrogen including electrolyser production. The state will provide investors with the best facilities available in the country, Sharma added. British deputy high commissioner to Kolkata Nick Low said the United Kingdom and India have committed to safeguarding the planet and building a more environmentally sustainable and inclusive future together.
“There is immense scope for the two countries to work together to ensure green hydrogen moves the dial in reducing and eventually eliminating carbon emissions. The UK is supporting the states in building capacities, attracting investment and developing commercial partnerships,” Low said.
NITI Aayog deputy adviser (energy) Manoj Kumar Upadhyay stressed on the think tank’s long term project for energy mix and sectoral road map for net zero target by 2070. “We are working to understand our green energy projection and regimes required by 2047 and 2070. A policy is in the offing for carbon capture technology and small module reactors to stay ahead in left out sectors other than green hydrogen,” he added.