The government is upbeat about India’s transition to green energy despite the challenges and private players' calls for more incentives to boost green hydrogen production. Speaking to CNBC-TV18 on the sidelines of the EU-India Green Hydrogen Forum, Power Minister R.K. Singh shared that the parameters for bids for offshore energy have been worked out.

Talking about the policy of offshore energy, the minister said the charges for the ocean floor are kept very low, at just about $1,200 per square km a year.

“We have worked out the parameters for bids for offshore. What we shall charge for the ocean floor etc. We are keeping the charges very low. It is just USD 1200 per square km (of ocean bed) for a year. So we are making it as easy as possible,” He said.

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The minister also talked about providing free transmission lines for offshore wind and the plan to collect the electricity from offshore (wind energy) pooling.

He noted that the administration has discussed the road to energy transition as well as the focus areas, because new challenges keep emerging as they navigate this uncharted path.

Aspects that need to be worked on

The minister identified energy storage and green hydrogen as priority areas.

He noted that, “energy access is again something the G20 ministers has prioritised because there are about 800 million people in the world who do not have access to energy. And access to affordable energy is a priority. The security of supply chains is a priority.”

For the full interview, watch the accompanying video

(Edited by : Shoma Bhattacharjee)

First Published:Sept 8, 2022 8:37 PM IST