Need investments to reduce green hydrogen production cost: Ireda CMD

The cost of producing green hydrogen can be lowered through investments in research, development, and innovation, state-owned Ireda CMD Pradip Kumar Das has said.

He made the remarks while addressing the AtoZero (Accelerate to Net Zero) ASEAN Summit in Kuala Lumpur in Malaysia, the Ministry of New and Renewable Energy (MNRE) said in a statement.

"Das highlighted the importance of reducing the cost of Green Hydrogen through investments in research, development, and innovation. These investments aim to identify cost-effective methods for green hydrogen production," it added.

He also advocated for leveraging economies of scale in transportation (including pipeline and liquefaction) and storage facilities by establishing hydrogen hubs. These hubs would promote greater utilisation of infrastructure, further advancing the green hydrogen sector.

Indian Renewable Energy Development Agency (Ireda) has also set up a pavilion at the event, which was inaugurated by Deputy Prime Minister of Malaysia Datuk Seri Fadillah Yusof on Thursday.

Das mentioned that Ireda is expecting its initial public offering (IPO) to enable the company to augment its capital base to meet its future capital requirements and for onward lending.

Ireda, under the Ministry of New and Renewable Energy, is a non-banking financial institution engaged in promoting, developing and extending financial assistance for setting up projects related to new and renewable sources of energy, energy efficiency and conservation.