To establish itself as a leader in sustainable energy through strategic international partnerships, India is making significant strides in the global renewable ammonia market.
The country has underscored its commitment to renewable energy with ambitious plans to produce five million metric tons of renewable hydrogen by 2030, aiming to capture a ten percent share of the global market.
To support project funding and execution, prominent organizations such as ReNew-Jera and ACME-IHI have begun signing non-binding supply agreements for renewable ammonia, with more collaborations anticipated.
India’s competitively priced renewable hydrogen is well-positioned to succeed on the international stage, despite facing challenges like inconsistent policies and competition from established ammonia producers in South Korea and Japan.
India’s advantage is further bolstered by the National Green Hydrogen Mission 2023, which removes interstate transmission fees and provides various incentives. The industry is optimistic about India’s capability to meet the rigorous European standards for renewable fuels at lower costs compared to other global markets.
As reported by ManufacturingToday, India’s ability to produce hydrogen at a much lower cost than many other countries positions it favourably in the competitive landscape.
