Green hydrogen and biofuels will enhance energy security: Hardeep Singh Puri

According to Union Minister of Petroleum and Natural Gas Hardeep Singh Puri, India has reached a 19% biofuel blending rate and is expected to reach its 20% goal before its October 2025 deadline. By 2030, the original goal was 20% mixing. Speaking at Mangaluru Lit Fest on “energy for survival-security and climate,” he stated, “We brought it forward to 2025.”

“We now consume 5.4 million barrels of crude oil per day for refining purposes, up from five million barrels per day,” he said. I predict that it will reach six to seven million barrels per day in the upcoming years, given the existing growth rates and energy growth projections. The International Energy Agency (IEA) predicts that India’s energy consumption would rise, accounting for 25% of global energy demand growth, he said. He emphasized that by reducing reliance on imported fossil fuels and promoting the green energy transition, green hydrogen, biofuels, and compressed biogas (CBG) might improve energy security.

“We have proven our ability to generate clean solar energy at a low, reasonable cost,” the minister stated. By lowering the price of one megawatt from 25 cents to 3 cents, we have shown that we are capable of doing so. Where there is local demand, local production, and local consumption, green hydrogen thrives. With the goal of producing five million metric tons of green hydrogen by 2030, I believe the tale is poised to take off with the installation of pump storage. A tender for the establishment of a green hydrogen plant was recently released by the IOCL. We must push the government to build CBG plants and raise our gas use from 6% to 15% of total energy,” he said.

Electrolyzers are now part of the government’s Production Linked Incentives (PLI) program. Rs 19,700 crore has been set aside under the Green Hydrogen Mission for R&D incentive programs such as PLI. Consequently, he added, India is home to all of the world’s electrolyzer manufacturers. mentioning that according to IMF projections, India’s economy would rank fourth by 2027. Based on the data, I predict that our economy will rank fourth far before then. Prior to the 190 years of colonial rule, our economy contributed roughly 23 to 25% of the world’s gross domestic product. That 25% share of the world GDP had decreased to 3 or 4% by the time we gained our independence.

The globe has an abundance of crude. OPEC decides to restrict the amount of crude that it makes accessible to the world market when prices rise. Thus, 102 million barrels of petroleum per day were made available until a few weeks ago. Brazil produces three million barrels per day. Thirteen million barrels of crude oil are sold daily in the United States. He went on to say that no democratically elected government, not just in India but anywhere else in the globe, can afford to go a day or even the most remote place without electricity.