Batting for "one country, one network and one price", Minister for Power and New & Renewable Energy RK Singh said that market coupling of power prices will logically happen in due course, and that different prices for power can't exist within the same country.
He told
CNBC-TV18 that carbon credits available with some cutting edge schemes will bring down the cost of modern technology. With rules for carbon credits in place, the government may permit global sale of credits in some sectors and allow
transfer of credits to countries purchasing Green Hydrogen from India. The Minister also said that India may get into an agreement with Japan as well as other countries it is in talks with.
Regarding India's onshoring plans for battery schemes, the Minister disclosed that the country will launch another Production Linked Incentive (PLI) scheme in the sector. Additionally, India is eyeing the utilization of offshore wind and Green Hydrogen for round-the-clock renewable energy storage. Singh assured that India will soon witness offshore wind energy bids, with the coastlines of Gujarat and Tamil Nadu showing great potential for harnessing offshore energy.
To reduce the carbon footprint of Indian exports, the Indian government is running pilot projects and developing new processes under the Green Hydrogen Mission. The minister said that taxes will be levied on imports accordingly, to discourage carbon content in domestic industries.
However, due to an insufficient quantity of biomass reaching thermal power plants, Singh recommended the establishment of more pelletisation machines to enhance biomass utilization.
In view of an insufficient quantity of biomass reaching thermal power plants due to undeveloped supply chains for biomass pellets, the minister suggested setting up of more pelletisation machines for better use of biomass.
While the Green Hydrogen program is taking off well, the government aims to manufacture electrolyers to ensure that renewable energy plans are on track, he added.
