India’s Investing In Program For The Green Hydrogen Industry | Covid Situation In China Is Getting Serious
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The green revolution is taking place in every country. India is also joining the ranks in planning to invest in the Green Hydrogen Industry. Despite the passage of time, covid is still a threat, as exemplified by China.
In this article:
- India and green ammonia
- China’s covid situation
- F&D Magazine
India and green ammonia
Recently, it is common to hear that a country is planning to allocate a billion dollars to renewable energy sources. It is also becoming more and more popular in the Asian region.
India is planning a $2 billion incentive program for the green hydrogen industry.
The Indian government expects the industry to invest 8 trillion rupees in green hydrogen and its derivative green ammonia by 2030, said an industry manager and another government official. Green ammonia is produced by combining nitrogen with hydrogen using renewable energy sources; it can be used by the fertilizer industry or as a fuel or a convenient means of transporting hydrogen.
India intends to sell 70% of its production to countries such as South Korea, Japan and the European Union.
The Indian government estimates that global demand for green hydrogen will exceed 100 million tons by 2030, up from nearly 75 million tons today.
The government also plans for the country to reach an electrolyser production capacity of 15 gigawatts in stages by 2030. This would be almost 10 times the current global production capacity.
Exclusive: India plans $2 bln incentive for green hydrogen industry - sources https://t.co/aXgHvIYPCj pic.twitter.com/tledy7g4Ap
— Reuters Business (@ReutersBiz) December 27, 2022
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China’s covid situation
Recent years have undoubtedly been difficult. The year 2020 has started the tumultuous time of the coronavirus pandemic. Currently, the attention of most economies is focused on the struggle with the energy crisis, high inflation and the development of events in Ukraine. But not China. In China, the fight against the pandemic is still going on.
Earlier this month, mainland China abruptly ended many Covid controls. Meanwhile, infections have skyrocketed, putting pressure on the country's already overburdened healthcare system.
It is unclear to what extent the Covid outbreaks have affected the country, with few official figures on recent infections and deaths.
In some Chinese provinces, the situation is really serious.Critical care beds and resources in some Chinese provinces are approaching capacity as Covid-19 infections increase.
Chinese provinces hit hard by Covid are seeing a strain on critical care, health officials say https://t.co/RAg3ttzLA1
— CNBC (@CNBC) December 27, 2022
IMF Magazine
The latest F&D Magazine focuses on the energy crisis and the difficulties of many economies.
The energy crisis began with Russia's attack on Ukraine. Europe could soon experience its first winter without Russian gas, risking even higher prices, gas shortages and a severe recession.
European governments have begun to implement a range of policies.
The increase in wholesale electricity prices reflects the increase in natural gas prices and shortages in nuclear and hydro power generation. In some cases, even the increase in electricity generation from coal and gas was not enough to meet the demand. As a result, prices have gone up so high.
This difficult situation also has its positive effects. The situation will ultimately encourage the expansion of renewable energy and more efficient use of electricity.
The latest issue of F&D Magazine focuses on the scramble for energy and what geopolitical tensions mean for the clean transition. Read and download here. https://t.co/KsNThOWIIq pic.twitter.com/r4UC7COuot
— IMF (@IMFNews) December 26, 2022
