By PTI | New Delhi
KP Group signed an agreement with multiple players to explore opportunities in the area of green hydrogen, on September 30. The company has formed a strategic international partnership with South Korea’s Jeonbuk Province to advance the global green hydrogen ecosystem, a filing said. The company, based in Surat, plays a role in India’s renewable energy sector, aiming to reach over 10 GW of clean energy capacity by 2030.
“KP Group, through KPI Green Hydrogen and Ammonia, signed an MoU with Jeonbuk Special Self-Governing Province, South Korea, along with energy leaders GH2 Solar Ltd and AHES Co Ltd. This collaboration marks a pivotal step in strengthening international cooperation for clean energy, especially in the emerging global green hydrogen sector,” KPI Green Energy said.
Meanwhile, the collaboration increases the focus on green hydrogen – the zero-emission fuel produced by splitting water molecules using electrolysis, powered by renewable energy sources like solar, wind, and hydropower, the price of which has fallen by more than USD 1 per kg in the tenders floated by state-owned oil companies like Indian Oil Corporation (IOC), Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri said.
From USD 5.5 per kg, the price of green hydrogen – which can be used to replace coal or natural gas in steel, cement, and chemical production as well as fossil fuel-derived grey hydrogen in refineries and ammonia production – has come down to USD 4.4–4.5 per kg in the latest tender, the statement added.
In a tender floated by IOC for a 10,000 tonnes per annum green hydrogen production at the firm’s Panipat refinery in Haryana, Larsen & Toubro offered a tax-inclusive price of USD 4.5 for 25 years, the Minister said at the World Hydrogen India conference of S&P Global.
These developments highlight both international cooperation in advancing green hydrogen projects and the increasing competitiveness of the fuel in India’s domestic market.
Also read: India Launches Major Push for Green Hydrogen Innovation, Backs Start-Ups with ₹100 Crore Fund
