In a groundbreaking development, India achieves a new milestone in clean energy with the Solar Energy Corporation of India (SECI) conducting the first-ever auction for Green Ammonia procurement under the National Green Hydrogen Mission.
Key Details:
- SECI conducts India’s first auction for Green Ammonia.
- Record price discovery at ₹55.75/kg under the National Green Hydrogen Mission.
- 75,000 metric tonnes per annum to be supplied to Paradeep Phosphates Limited, Odisha.
Game-Changer for Green Hydrogen and Ammonia
The auction signifies a major leap in India’s transition towards clean energy. It covers the supply of 75,000 metric tonnes per annum of Green Ammonia to Paradeep Phosphates Limited, Odisha, setting the stage for future auctions with a cumulative target of 7.24 lakh metric tonnes annually.
Record-low Price Discovery
- ₹55.75/kg price discovery in the auction, a significant drop from previous benchmarks.
- 10-year fixed-price contract offered, enhancing financial attractiveness for industries.
Strong Investor Confidence
The auction witnessed fierce competition among developers, showcasing strong investor faith in India’s renewable energy ecosystem. SECI’s role as the intermediary procurer under the Ministry of New & Renewable Energy has further bolstered confidence, ensuring stability for long-term investments in green fuels.
Implications for India’s Green Energy Goals
The price discovery paves the way for India to emerge as a global leader in Green Hydrogen production and derivatives like Green Ammonia. The competitive pricing makes a compelling case for industries to shift towards green alternatives, aligning with the country’s sustainable development goals.
The Road Ahead
- SECI’s auction is the initial phase in a larger strategy to boost domestic Green Ammonia production.
- Further auctions are expected to drive price stabilization and attract global participation.
- India’s commitment to net-zero emissions by 2070 is reinforced through these initiatives.
Key Takeaways for Competitive Exams
- India achieves record-low Green Ammonia price at ₹55.75/kg in SECI’s first auction.
- Significant step towards clean energy transition and achieving sustainable development goals.
- Strong investor confidence and competitive pricing drive the adoption of green fuels in industries.
