Latest news with #AjayMathur
Time of India
5 days ago
- Business
- Time of India
India's hydrogen demand to reach 8.8 MTPA by 2032; few projects hit investment stage: Report
New Delhi: India's hydrogen demand is projected to rise at a compound annual growth rate (CAGR) of 3 per cent to 8.8 million metric tonnes per annum (MTPA) by 2032, according to a report released by the India Energy Storage Alliance (IESA) at the 11th edition of India Energy Storage Week (IESW) 2025. Despite green hydrogen project announcements exceeding 9.2 MTPA, only a few projects have reached the Final Investment Decision (FID) or secured long-term offtake agreements from domestic or international markets. The IESA report notes that under a baseline scenario, if 30 per cent of the announced green hydrogen (GH2) capacity is commissioned within ten years, electrolytic and bio-hydrogen supply can meet approximately 31 per cent of domestic demand in 2032. The event was inaugurated at IICC Yashobhoomi, New Delhi, in the presence of Dr. Ajay Mathur, Ex-DG, International Solar Alliance and Professor, IIT Delhi; Malini Dutt, Trade and Investment Commissioner – India, NSW Government; Manish Sharma, Chairman, Panasonic; Stephen Fernands, Founder & President, Customized Energy Solutions (CES); Vinayak Walimbe, Managing Director, CES; and Debmalya Sen, President, IESA, along with over 200 global energy leaders. Addressing the inaugural ceremony, Dr. Ajay Mathur said, 'IESW 2025 embodies the collective aspirations of the battery and storage communities, fostering collaboration and knowledge exchange among industry professionals. It serves as a crucial platform where individuals from various sectors, such as battery manufacturing, application, and electricity demand, can come together to learn from one another and advance their understanding of the sector.' The report stated that for schemes being implemented under the National Green Hydrogen Mission (NGHM), a call for proposals or bids has been issued, winning bidders or proposals announced, or fund disbursement has begun. The largest allocations are for subsidies under the GH2 Tranche 1 and 2, electrolyzer manufacturing (ELY Tranche 1 and 2), and green ammonia (GNH3 aggregation) tenders under the Strategic Initiative for Green Hydrogen Transition (SIGHT). According to the report, four states account for 82 per cent of the announced GH2 projects — Odisha (38 per cent), Gujarat (26 per cent), Karnataka (12 per cent), and Andhra Pradesh (6 per cent). Around 72 per cent of the announced projects are targeting green hydrogen use for ammonia production, while 20 per cent have not announced end-use applications. Key cost drivers of the Levelized Cost of Hydrogen (LCOH) produced through water electrolysis include the cost of landed electricity, capital expenditure (CAPEX) for the electrolyzer stack and balance of plant, and capacity utilization of the electrolyzer. Vinayak Walimbe, Managing Director, CES, said, 'Despite various policy interventions and government initiatives to promote the green hydrogen mission, several challenges remain in addressing the urgent issue of decarbonization. The IESA India Hydrogen Report, launched at IESW 2025 today, is crucial in raising awareness among policymakers, industry leaders, and stakeholders in the sector, helping to further accelerate the mission.' According to the status of India's green hydrogen transition report, the production cost of hydrogen from fossil fuels in India is nearly twice the cost of $1 per kilogram of hydrogen or even higher. For consumers representing about 6 per cent of the total hydrogen market who obtain hydrogen, the landed cost is even greater due to storage and transportation expenses. Open-access electricity regulations often restrict the renewable energy offset for commercial and industrial consumers, which can reduce the capacity utilization of electrolysers. The estimated LCOH in the base case is two to four times higher than the production cost of fossil fuel-based hydrogen. In a highly optimistic scenario, the estimate is 1.5 to 2.5 times higher, which is close to the recent first price discovery of green hydrogen in India. Debmalya Sen, President, IESA, said, 'With the support of government initiatives to foster innovation and investment in clean energy technologies, IESW 2025 will bring together industry leaders, government representatives, and global experts to showcase groundbreaking solutions. This gathering will pave the way for India's transition to a resilient energy system, ensuring we meet our growing energy demands while keeping our target of production capacity of 5 million tonnes per annum (MTPA) of green hydrogen by 2030 in sight.' IESW 2025 is bringing together ministries, government representatives, and companies from over 20 countries. The three-day event will showcase over 300 product innovations in sectors including electric vehicles , charging infrastructure, solar, green hydrogen, and energy storage. Seven or more new product and factory announcements are expected from Indian manufacturers during the event.
Business Times
16-06-2025
- Business
- Business Times
DBS to add 100 wealth bankers in Hong Kong as clients trade more
[HONG KONG] DBS Group Holdings, Singapore's largest lender, is planning to recruit 100 bankers catering to the rich in Hong Kong over the next three years with clients having more appetite to trade. Clients with at least HK$1 million (S$163,138) in investible assets are becoming more active in the financial markets, prompting the firm to add headcount, Ajay Mathur, DBS' head of Hong Kong consumer banking and wealth management, told the South China Morning Post in an interview. Volatility across assets from equity to bonds and currencies attracted investment demand, Mathur said in the article, which was confirmed by DBS. DBS's Hong Kong wealth revenue grew 86 per cent in the first quarter from the corresponding period in 2023, according to Mathur. DBS is also looking to add another wealth management hub in the city next year to offer products including insurance and financial planning services, he said. Its first such local centre opened last year at Queen's Road Central, targeting rich customers from Hong Kong and China. BLOOMBERG
South China Morning Post
16-06-2025
- Business
- South China Morning Post
DBS Hong Kong hiring wealth managers as investors' risk appetite grows
DBS Hong Kong, a unit of Southeast Asia's biggest lender, plans to hire 100 bankers in the next three years and open a new wealth centre next year to capture the growing wealth-management business in the city, according to a senior executive. Advertisement The subsidiary of the Singapore bank was pressing ahead with its expansion plan as its wealthy customers were not worried about market volatility triggered by the US-China trade war, according to Ajay Mathur, head of DBS Hong Kong's consumer banking group and wealth management. 'The trade war and geopolitical tensions [may] have created volatility, [but] when there is volatility, it is a great time to trade currencies, bonds and equities,' Mathur said in an interview with the Post. 'Our affluent clients have made the most of it.' The benchmark Hang Seng Index plunged 13.2 per cent on April 7 after the US imposed hefty tariffs on Chinese imports, marking its largest one-day decline since October 1997. But the market recovered after both sides agreed to a 90-day truce last month. Ajay Mathur, head of consumer banking group and wealth management at DBS Hong Kong. Photo: Sun Yeung The index has gained 24 per cent this year, after rising 18 per cent last year. Meanwhile, the average daily stock turnover in the first five months this year has jumped 120 per cent year on year to HK$242 billion (US$30.8 billion). Advertisement Mathur said the bank has seen investments increase across all asset types, including stocks, bonds and currencies this year, driven mainly by affluent clients who have at least HK$1 million to invest.
Zawya
31-01-2025
- Business
- Zawya
Kuwaiti Amb. to India discusses sustainable energy solutions with ISA Chief
Kuwait Ambassador to India Meshal Mustafa Al-Shamali met on Thursday with Secretary-General of the International Solar Alliance Ajay Mathur in New Delhi to discuss cooperation in developing sustainable energy solutions. Ambassador Al-Shamali told KUNA that he held discussions with the Secretary-General of the International Solar Alliance to enhance cooperation with Kuwait in the field of developing the capabilities of solar energy technologies to achieve a low-carbon future. Kuwait had signed a MoU to join the International Solar Alliance during Indian Prime Minister Narendra Modi's visit to Kuwait last December. The ambassador pointed out that Kuwait joining the International Solar Alliance represents an important step towards cooperation in developing sustainable low-carbon energy solutions. The ambassador said that during the meeting he discussed ways to benefit from the Alliance's expertise in training Kuwait technical teams and exchanging knowledge in the field of expanding work in the solar energy sectors. The Secretary-General welcomed Kuwait signing the MoU to join the ISA, considering it an important historic event given Kuwait's international standing in the energy sector. Mathur also said that he is looking forward to optimal bilateral cooperation between Kuwait and the International Solar Alliance. India and France had launched the International Solar Alliance as a global initiative at the UN Climate Change Conference in Paris in 2015 to promote solar energy as a sustainable solution to energy access and climate change. The International Solar Alliance, headquartered in India, plays a major role in promoting global cooperation in the field of solar energy, enhancing energy security and supporting the transition to cleaner energy systems. All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (
Arab Times
30-01-2025
- Business
- Arab Times
Kuwaiti ambassador to India discusses sustainable energy solutions with ISA chief
NEW DELHI, India, Jan 30: Kuwait's Ambassador to India, Meshal Mustafa Al-Shamali, met with Ajay Mathur, the Secretary-General of the International Solar Alliance (ISA), in New Delhi on Thursday to discuss enhancing cooperation in the development of sustainable energy solutions. Ambassador Al-Shamali shared with KUNA that the discussions focused on strengthening collaboration between Kuwait and the ISA, particularly in advancing solar energy technologies to contribute to a low-carbon future. Kuwait had signed a Memorandum of Understanding (MoU) to join the International Solar Alliance during Indian Prime Minister Narendra Modi's visit to Kuwait in December. Ambassador Al-Shamali emphasized that Kuwait's membership in the ISA marks an important milestone in the country's efforts to develop sustainable, low-carbon energy solutions. During the meeting, the Ambassador also explored opportunities to leverage the ISA's expertise in training Kuwait's technical teams and fostering knowledge exchange to expand the country's solar energy sector. The ISA Secretary-General, Ajay Mathur, welcomed Kuwait's decision to join the Alliance, describing it as a historic and significant development given Kuwait's prominent role in the global energy sector. Mathur expressed his eagerness for enhanced bilateral cooperation between Kuwait and the International Solar Alliance. The International Solar Alliance was jointly launched by India and France at the 2015 UN Climate Change Conference in Paris. The initiative aims to promote solar energy as a sustainable solution for energy access and combating climate change. Headquartered in India, the ISA plays a crucial role in fostering global cooperation in the solar energy sector, boosting energy security, and supporting the transition to cleaner energy systems.
