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India targets global renewable ammonia market, aims for energy leadership
With the goal of achieving leadership in sustainable energy through smart international partnerships, India is staking its claim in the global market for renewable ammonia. India emphasises its commitment to renewable energy with plans to produce 5 million metric tonnes of renewable hydrogen by 2030 and gain a 10 per cent share of global trade.
To help with project funding and implementation, leading organisations like ReNew-Jera and ACME-IHI have started to sign non-binding supply agreements for renewable ammonia, and more will follow. India’s affordable renewable hydrogen is well-positioned to compete internationally, despite challenges in the form of inconsistent policies and market competition from established ammonia manufacturers in South Korea and Japan.
India’s competitive edge is further strengthened by the National Green Hydrogen Mission 2023, which eliminates interstate transmission fees and offers incentives. The industry is quite hopeful about India’s ability to achieve the demanding European standards for renewable fuels at more affordable rates than other global markets, as it has the capacity to produce hydrogen at a significantly lower cost than other countries.
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