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New Delhi, India's top oil firm IOC on Monday unveiled the nation's first <keyword id="18906554" type="General" weightage="20" keywordseo="green-hydrogen-powered-bus" source="Orion">green hydrogen-powered bus</keyword> that emits just water as it takes the lead in bringing out unrivaled tools to replace fossil fuels. Indian Oil Corporation (IOC) will produce close to 75 kg of hydrogen by splitting water using electricity from renewable sources. This hydrogen will be used to power two buses which will ply across the national capital region for trial runs. Oil Minister Hardeep Singh Puri, flagging off the buses, said hydrogen will be India's transition fuel for moving away from fossil fuels. IOC's R&amp;D Centre at Faridabad is producing green hydrogen for the pilot run. Four cylinders with a capacity of 30 kg can run the buses for 350 km. It takes 10-12 minutes for the four tanks to fill. Hydrogen when burnt emits only water vapour as a by-product. With three times the energy density and the absence of harmful emissions, hydrogen shines as a cleaner, more efficient choice to meet the energy requirement. As much as 50 units of renewable electricity and 9 kg of deionized water are needed for the production of one kilo of green hydrogen. Hydrogen can be used as a fuel for fuel cells. Puri said by the end of 2023, IOC will scale up the number of buses to 15. IOC will undertake operational trials of 15 fuel cell buses powered by green hydrogen on the identified routes in Delhi, Haryana, and UP. Under this programme, the first set of 2 fuel cell buses was launched on Monday. "Our government has ambitious plans on clean and green energy. India has taken many steps towards low carbon development- through emerging fuels like hydrogen and bio-fuels and shall account for 25 per cent of global incremental energy demand growth over the next two decades," Puri said. Upon the launch of the two buses, a cumulative mileage of more than 3 lakh kilometers will be covered for long-term assessment of performance and durability of the new technology. India has one of the largest synchronous grids in the world, capable of handling intermittent renewable energy and it has achieved 'One Nation-One Grid-One Frequency'. "With the low cost solar, synchronous grid, large demand and engineering, India will be a global champion in production and exports of hydrogen and is set to emerge as the hub for green hydrogen," he said. Puri said recently the world's first BS 6 (Stage II) Electrified Flex Fuel vehicle prototype was launched that encompasses both the flex fuel engine as well as an electric powertrain that offers higher use of ethanol combined with better fuel efficiencies. Hydrogen is deemed as the fuel for the future with immense potential to help India meet its decarbonization targets. The global demand for hydrogen is expected to increase by four to seven times to 500-800 tonne by 2050. Domestic demand is expected to increase by four times, from the current 6 tonne at present to 25-28 tonne by 2050. Oil and gas PSUs shall produce around 1 million tonne per annum of green hydrogen by 2030. "This green <keyword id="14355451" type="General" weightage="20" keywordseo="hydrogen-powered-bus" source="Orion">hydrogen-powered bus</keyword> is going to transform the face of city transport in the country. I shall be closely monitoring the project and wish you all the very best for successfully executing this project of national importance," he added. "The success of this project can catapult India from being a net importer of fossil energy to becoming a net exporter of clean hydrogen energy; and provide global leadership to other countries in terms of technology transfer while becoming a large green hydrogen producer and supplier of manufacturing parts."

IndianOil unveils India's first green hydrogen-run bus that emits just water

One thing that the entire country is worried about today is rising fuel prices that are burning a hole in our pockets. <div type="image" title="Simpson meme" msid="91155009" hostid="261"></div> The price of crude oil, which is used to make petrol and diesel, shot up after Russia – one of the major oil-producing countries – went onto the battlefield with Ukraine. India currently imports <a href="https://www.businessinsider.in/finance/news/crude-oil-surges-significantly-to-109-per-barrel-as-countries-look-for-options-other-than-russia/articleshow/89936843.cms">85% of its oil demand </a>and the rise in crude oil prices directly increases import bill and expenses. And crude oil prices have increased more than 50% in the last one year <a href="https://www.businessinsider.in/finance/news/crude-oil-surges-significantly-to-109-per-barrel-as-countries-look-for-options-other-than-russia/articleshow/89936843.cms">to $100 from $60 a year </a>ago. This ever-increasing demand for fuel and dependency on imported crude oil for domestic needs has made us wonder if there's an alternative solution to this problem. Yes, there is! <keyword id="169046" type="General" weightage="100" keywordseo="hydrogen" source="Orion">Hydrogen</keyword>. What is hydrogen and can it be used as a fuel? Hydrogen is a <keyword id="154273" type="General" weightage="20" keywordseo="clean-energy" source="Orion">clean energy</keyword> alternative and can be made directly from fossil fuels or biomass, or it can be produced by passing electricity through water. <keyword id="8411893" type="General" weightage="80" keywordseo="green-hydrogen" source="Orion">Green hydrogen</keyword> (GH2) can be generated by breaking water (H20) into hydrogen and oxygen through the electrolysis of water. An electrical current is used to separate hydrogen from oxygen in water and it is extracted without generating any net carbon emissions. This also means that the energy created from hydrogen does not release toxic carbon dioxide, which makes it one of many potential energy sources that could help reduce carbon emissions and slow global warming. <div type="image" title="The process of producing Green Hydrogen" msid="91155052" hostid="261"></div> This green fuel can be utilised as a source of energy in transport, electricity production, and industry activity. It can power anything that uses electricity including electric vehicles and electronic devices. It can also be used as a <a href="https://telanganatoday.com/what-exactly-is-green-hydrogen-and-will-it-be-the-fuel-of-the-future">substitute </a>for natural gas for cooking and heating within homes. If the electricity needed for electrolysis is generated from renewable sources such as solar or wind, the production of green hydrogen does not emit any harmful gases unlike coal and oil. It only emits water vapour. Hydrogen is also the most <a href="https://www.precedenceresearch.com/green-hydrogen-market">abundant </a>element on the planet and offers tremendous promise for innovation. Hence, this is the most eco-friendly way of producing fuel. This is why different countries are rushing to include green hydrogen in their clean energy initiatives. Government bodies around the world have been investing time and money for research into this sustainable source of energy. And India has also taken some steps towards clean energy. According to market research and consulting organisation Precedence <a href="https://www.precedenceresearch.com/green-hydrogen-market">Research</a>, the global green hydrogen market was valued at $1.83 billion in 2021 and is expected to hit over US $89.18 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 54% from 2021 to 2030. The report goes on to say that the Asia-Pacific region is the <a href="https://www.globenewswire.com/news-release/2022/01/11/2364715/0/en/Green-Hydrogen-Market-Size-to-Surpass-US-89-18-Bn-by-2030.html">fastest </a>growing region in the green hydrogen market. <div type="image" title="Growth expectation for global hydrogen market" msid="91155036" hostid="261"></div> Not to forget, Prime Minister Narendra Modi had announced the <a href="https://www.business-standard.com/article/economy-policy/india-can-be-global-hub-of-green-hydrogen-says-pm-narendra-modi-122030401489_1.html">Green </a>Hydrogen Policy and this target of becoming net zero carbon emission by 2070, earlier this year, with the goal of making India a "green hydrogen hub," or a prominent producer and exporter of "green hydrogen." The government policy is aimed at boosting green hydrogen production in the country, which can also reduce India’s dependence on importing over 80% of the oil and gas requirements. The policy focuses on increasing dependency on cleaner forms of energy and abandoning fossil fuels. The policy says green hydrogen and green ammonia is one of the major requirements for reduction of emissions. The government believes hydrogen can play a huge role in shifting to clean energy. It allows companies to easily set up the capacity to generate electricity from renewable sources such as solar or wind anywhere in the country. The government is also planning to bring a production-linked incentive (PLI) scheme for manufacturing electrolysers for producing green hydrogen. Large companies like <keyword id="6355199" type="General" weightage="50" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> Limited (RIL), Adani Group, Larsen &amp; Toubro (L&amp;T) with multiple factories that release several forms of chemicals in some way or another will take advantage of the policy. In fact, they have laid out a roadmap already to enter the green hydrogen market. Huge conglomerates like RIL have their own emission target of achieving net zero carbon emissions by 2035. In June 2021, RIL had also said that it is planning to invest <a href="https://www.forbes.com/sites/yessarrosendar/2022/01/14/indian-billionaire-mukesh-ambanis-reliance-industries-to-invest-80-billion-in-renewable-energy-push/?sh=57ca8f7d7a2f">$10 billion</a> in <keyword id="34553" type="General" weightage="20" keywordseo="renewable-energy" source="Orion">renewable energy</keyword>. To help make Gujarat net-zero carbon, Reliance proposes to invest $67.4 billion in the state over 10 to 15 years to set up a 100 gigawatt renewable energy power plant and green hydrogen ecosystem development. <ul><li>Reliance Industries has announced to produce green hydrogen and also make an electrolyser factory to manufacture green energy.</li><li>Larsen &amp; Toubro announced plans to manufacture hydrogen electrolysers in India. Recently, it entered into a pact with the Indian Institute of Technology (IIT), Bombay to carry out a joint research and develop the green hydrogen technology.</li><li>Indian Oil Corp, one of the largest fossil fuel retailers, also announced its plans to build a green hydrogen plant at its Mathura refinery in Uttar Pradesh.</li><li>GAIL plans to build India's largest green hydrogen-making plant as it looks to supplement its natural gas business with carbon-free fuel.</li><li>NTPC also plans to produce green hydrogen.</li></ul>The policy allows 25 years of free inter-state power transmission for any new renewable energy plants that produce green hydrogen for projects commissioned before June 30, 2025. This means that a green hydrogen producer will be able to set up a solar power plant and supply in states and not pay any inter-state transmission charges. Currently, green hydrogen technology is still at the stage of emergence. The country has to overcome a few barriers such as price, storage, and logistics, to ensure a smooth transition towards the green hydrogen ecosystem. Here’s an explainer video about everything green hydrogen, challenges that the world currently faces to store GH2, positives from India's <keyword id="13040691" type="General" weightage="50" keywordseo="green-hydrogen-policy" source="Orion">Green Hydrogen policy</keyword> and five stocks that will benefit from it. <div type="image" title="Everything green hydrogen" msid="91155096" hostid="261"></div>

SIMPLY PUT: Everything you need to know about green hydrogen and India’s new policy around it

<ul class="summary-list"><li><keyword id="11949096" type="UNKNOWN" weightage="60" keywordseo="plug-power" source="Orion">Plug Power</keyword> climbed as much as 10% early Tuesday after the company announced a supply pact with <keyword id="11893281" type="UNKNOWN" weightage="60" keywordseo="walmart" source="Orion">Walmart</keyword>.</li><li>The company will provide Walmart up to 20 tons of liquid green hydrogen per day to power its US fleet of material handling lift trucks.</li></ul><a href="https://markets.businessinsider.com/stocks/plug-stock">Plug Power stock</a> jumped as must as 10% Tuesday after the company announced a deal to provide <a href="https://markets.businessinsider.com/stocks/wmt-stock">Walmart</a> up to 20 tons per day of liquid green hydrogen.The hydrogen will power the retail giant's material handling lift trucks, such as forklifts, and comes as Walmart looks to make good on promises to invest in <a href="https://corporate.walmart.com/newsroom/2021/04/29/setting-records-walmart-continues-moving-toward-becoming-a-totally-renewable-business">zero-carbon emission energy sources</a>."Our <keyword id="12011391" type="UNKNOWN" weightage="60" keywordseo="green-energy" source="Orion">green energy</keyword> solutions will provide Walmart with the ability to achieve significant carbon reduction," said Plug Power CEO Andy Marsh in a press release. "We are honored to expand our relationship with Walmart and realize our shared vision for for a green hydrogen future."Plug says it will deliver the hydrogen with its liquid transport fleet made possible by a recent acquisition of <a href="https://www.ir.plugpower.com/Press-Releases/Press-Release-Details/2021/Plug-Power-Completes-Acquisition-of-Applied-Cryo-Technologies/default.aspx">Applied Cryo Technologies.</a>The two companies first joined forces in 2o12, when Plug Power began providing hydrogen fuel cells for Walmart facilities and vehicles. Tuesday's deal is one of Plug Power's first contracts to supply green hydrogen itself. Plug Power stock pared gains to 6%. Shares spiked earlier this year as rising oil prices and the Russia's invasion of Ukraine spurred interest in green <keyword id="11917806" type="UNKNOWN" weightage="60" keywordseo="energy" source="Orion">energy</keyword> stocks. But the stock has since come off its high and is down 9% so far in 2022.

Plug Power stock jumps 10% on deal to provide Walmart with hydrogen

Billionaire Mukesh <keyword id="19898589" type="General" weightage="20" keywordseo="ambani" source="keywords">Ambani</keyword>'s <keyword id="6355199" type="General" weightage="20" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> Ltd will commission a new energy <keyword id="20278828" type="General" weightage="20" keywordseo="giga-complex" source="Orion">giga complex</keyword> in <keyword id="6354766" type="General" weightage="20" keywordseo="gujarat" source="Orion">Gujarat</keyword> in the second half of 2024, the company said in an earnings statement and investor call. <keyword id="19936674" type="General" weightage="20" keywordseo="reliance" source="keywords">Reliance</keyword> is building a giga complex spread over 5,000 acres in <keyword id="6361405" type="General" weightage="20" keywordseo="jamnagar" source="Orion">Jamnagar</keyword> in Gujarat. The complex comprises five giga factories for photovoltaic panels, fuel cell system, green hydrogen, energy storage and power electronics. "On track to commence new energy facilities in phases this year," the company said in a post-third-quarter earnings call with investors. Post announcement of third-quarter earnings on Friday, Ambani stated that the "New Energy Giga Complex is all set to be commissioned in the second half of CY24. I am confident that Reliance's New <keyword id="679565" type="General" weightage="20" keywordseo="energy-business" source="Orion">Energy business</keyword> will play a pivotal role in the global movement for adoption of cleaner fuels." The Dhirubhai Ambani Green Energy Giga Complex will be among the largest integrated renewable energy manufacturing facilities in the world. Reliance has signed an MoU with the Gujarat government to set up 100 gigawatt renewable power at Rs 5 lakh crore capex. It has received in-principle approval for 74,750 hectares (ha.) of land parcels in Kutch for green hydrogen. The firm has strategically invested in ten global technology innovators with strong expertise across the new energy value chain. "Reliance is nearing the commissioning of the first tranche of 5GW module manufacturing capacity in mid-CY24," Nuvama said in a January 17 note. It has via REC Solar signed a supply agreement with China-based Suzhou Maxwell Technologies to buy a high efficiency production line for HJT cells (4.8GW capacity). It signed a 5.2GW HJT module automation production agreement with China-based SC Solar in January 2023. It won PLIs under both rounds of solar modules PLI (Round 1: USD 0.3 billion, 4GW; Round 2: USD 0.4 billion, 6GW). Reliance (apart from Greenko) is the only company to win incentives for both green hydrogen and electrolysers concluded recently. It won incentives of USD 0.3 per kg for electrolyser capacity of 300MW and USD 0.23 for green hydrogen capacity of 90,000 tonnes. Besides, it has won PLI under ACC battery storage for 5GW capacity. "These incentives are likely to assist Reliance achieve a green hydrogen cost of USD 1' 1.5 per kg," Nuvama said. Given <keyword id="20002939" type="General" weightage="20" keywordseo="ril" source="keywords">RIL</keyword> is the largest producer and consumer of grey hydrogen, transition to green hydrogen shall enable it to improve margins ahead, it said. The current green hydrogen cost hovers USD 3 per kg, which remains 1.5x compared to grey hydrogen produced using natural gas due to the high cost of generating solar/wind energy as well as high electrolyser cost. Presently, a hybrid of solar and wind remains the cheapest source of generating green hydrogen. The cost for solar remains the highest due to low PLF of electrolysers at 30' 35 per cent versus wind at 65' 70 per cent, and for hybrid 70' 75 per cent.

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IndianOil unveils India's first green hydrogen-run bus that emits just water

PTI

SIMPLY PUT: Everything you need to know about green hydrogen and India’s new policy around it

Plug Power stock jumps 10% on deal to provide Walmart with hydrogen

Brian Evans

Reliance to commission new energy giga complex this year

PTI

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