MUMBAI - French giant TotalEnergies and Indian billionaire Gautam Adani's conglomerate plan to invest US$5 billion to produce green hydrogen and related products in India as the world's third-largest polluter seeks to decarbonise.
Green hydrogen projects will also help India - the world's third-largest carbon emitting country - to slash its reliance on oil and coal as it chases"To meet India's energy transition goals, we need big money and technology to come into the green hydrogen sector to drive down the costs," said Mr Debasish Mishra, a Mumbai-based partner at Deloitte Touche Tohmatsu."India can't think of a decarbonisation roadmap without green hydrogen.
Green hydrogen, produced from water and renewable power, is forecast for rapid growth this decade, and global output could jump as much as 18-fold to about 11.6 million tonnes a year by 2030 with strong policy support, according to BloombergNEF.
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