Gautam Adani, Chairman, Adani Group has emphasised the importance of Green Hydrogen in achieving net zero emissions for the 54th Annual Meeting of the World Economic Forum (WEF). Titled “Reducing costs: The key to leveraging green hydrogen on the road to net zero”, Adani reflects on the viability and potential of Green Hydrogen as a key alternative to fossil fuel as the world seeks to transition towards a clean and renewable future.
The blog, published on the WEF website, notes the benefits of Green Hydrogen for the environment as well as development. It highlights the viability of Green Hydrogen as a clean fuel with zero-emissions. Green Hydrogen will hold the key to realise the dream of carbon neutrality across the world. Hydrogen has been known as a potential energy storage medium and can produce electricity in fuel cells with water as the only waste product.
Hence, to fully realise its potential, the blog draws emphasis on the importance of its broader adoption to decrease the cost of production, various policy support measures, and adopting the approach of vertical integration by encompassing the entire supply chain to make Green Hydrogen affordable. Companies with backward integration are the only ones who will be able to provide the world with affordable green molecules. The cost of production of Green Hydrogen must decline from the current $3-5 per kilogram (kg) towards $ 1/kg for widespread adoption.
The blog reflects on and provides a roadmap for leaders, policymakers, and industry stakeholders to navigate the challenges and opportunities presented by the evolving energy paradigm. For readers eager to gain a deeper understanding of the role green hydrogen can play in shaping the energy landscape of tomorrow, the blog can be accessed here- https://www.weforum.org/agenda/2024/01/da7a7745-1747-4519-8bc5-aec6c64a42bb/
About Adani New Industries Limited (ANIL)
Adani New Industries Limited (ANIL) from Adani Enterprises Limited (AEL) is developing end-to-end solutions to produce globally competitive green hydrogen and its associated sustainable derivatives. The first project of ANIL of 1 million metric tonnes per annum (MMTPA) green hydrogen is being implemented in phases in Gujarat. The initial phase is expected to start production by FY2027. Depending on market conditions, ANIL aims to increase capacity to up to 3 MMTPA of green hydrogen in the next 10 years, with an investment of about USD 50 billion.
ENDS Photo Caption- Gautam Adani, Chairman of Adani Group