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Mint
2 days ago
- Business
- Mint
India's hydrogen demand expected to rise at 3 pc CAGR to 8.8 MTPA by 2032
New Delhi, Jul 8 (PTI) India's hydrogen demand is expected to rise at a compound annual growth rate of 3 per cent to 8.8 million tonne per annum by 2032, a report released by India Energy Storage Alliance (IESA) on Tuesday said. The report unveiled on the first day of India Energy Storage Week here said that despite announcements of green hydrogen projects of over 9 MTPA capacity, few in India have reached the Final Investment Decision (FID) or secured long-term offtake agreements from domestic or international markets. In the baseline scenario, with 30 per cent of the announced green hydrogen (GH2) capacity commissioned within ten years, electrolytic c bio-H2 (bio hydrogen) supply can meet approximately 31 per cent of domestic demand in 2032. The report further highlighted that out of 9.2 million tonne per annum (MTPA) GH2 project announcements, 4 states account for 82 per cent projects: Odisha (38 per cent), Gujarat (26 per cent), Karnataka (12 per cent), Andhra Pradesh (6 per cent). About 72 per cent of the announced projects are targeting GH2 use for ammonia production, whereas 20 per cent have not announced end use applications. Debmalya Sen, President, IESA said "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 MTPA of green hydrogen by 2030 in sight." Vinayak Walimbe, Managing Director, Customized Energy Solutions (CES), stated, despite various policy interventions and government initiatives to promote the green hydrogen mission, several challenges remain in addressing the urgent issue of decarbonization. For consumers who obtain hydrogen - representing about 6 per cent of the total hydrogen market - the landed cost of hydrogen is even greater due to storage and transportation expenses. Additionally, open-access electricity regulations often restrict the renewable energy offset for commercial and industrial consumers, which could reduce the capacity utilization of electrolyzers. As per the report, estimated Levelized Cost of Hydrogen (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 very close to the recent first price discovery of green hydrogen in India, it stated.
Time of India
2 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.
Time of India
2 days ago
- Business
- Time of India
India's hydrogen demand expected to rise at 3 pc CAGR to 8.8 MTPA by 2032
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi: India's hydrogen demand is expected to rise at a compound annual growth rate of 3 per cent to 8.8 million tonne per annum by 2032, a report released by India Energy Storage Alliance (IESA) on Tuesday report unveiled on the first day of India Energy Storage Week here said that despite announcements of green hydrogen projects of over 9 MTPA capacity, few in India have reached the Final Investment Decision (FID) or secured long-term offtake agreements from domestic or international the baseline scenario, with 30 per cent of the announced green hydrogen (GH2) capacity commissioned within ten years, electrolytic c bio-H2 (bio hydrogen) supply can meet approximately 31 per cent of domestic demand in report further highlighted that out of 9.2 million tonne per annum (MTPA) GH2 project announcements, 4 states account for 82 per cent projects: Odisha (38 per cent), Gujarat (26 per cent), Karnataka (12 per cent), Andhra Pradesh (6 per cent). About 72 per cent of the announced projects are targeting GH2 use for ammonia production, whereas 20 per cent have not announced end use Sen, President, IESA said "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 MTPA of green hydrogen by 2030 in sight."Vinayak Walimbe, Managing Director, Customized Energy Solutions (CES), stated, despite various policy interventions and government initiatives to promote the green hydrogen mission, several challenges remain in addressing the urgent issue of consumers who obtain hydrogen - representing about 6 per cent of the total hydrogen market - the landed cost of hydrogen is even greater due to storage and transportation open-access electricity regulations often restrict the renewable energy offset for commercial and industrial consumers, which could reduce the capacity utilization of per the report, estimated Levelized Cost of Hydrogen (LCOH) in the base case is two to four times higher than the production cost of fossil fuel-based a highly optimistic scenario, the estimate is 1.5 to 2.5 times higher, which is very close to the recent first price discovery of green hydrogen in India, it 11th edition of India Energy Storage Week 2025 (IESW) organised by IESA kicked off on Tuesday at IICC Yashobhoomi here.
Cision Canada
23-06-2025
- Business
- Cision Canada
Entropy Enters Definitive Agreement to Purchase Strategic Carbon Storage Assets
CALGARY, AB, June 23, 2025 /CNW/ - Entropy Inc. ("Entropy"), a subsidiary of Advantage Energy Ltd. ("Advantage"), has entered into a definitive agreement to purchase an interest in three carbon hubs from a Canadian oil and natural gas producer for $20 million and contingent payments of approximately $15 million (subject to adjustment) based on commercial milestones achieved by various projects (the "Acquisition"). The all-cash transaction encompasses a portfolio of strategic subsurface assets, along with associated commercial contracts, licenses, and other intellectual property. The acquired assets are the Belle Plaine carbon hub and the North Battleford carbon hub, located in Saskatchewan, as well as a 50% interest in the Rolling Hills carbon hub located in southern Alberta. The Acquisition is expected to close in July 2025, subject to satisfaction of certain conditions precedent. TD Securities Inc. acted as the exclusive Financial Advisor to the Vendor. Funds for the Acquisition will be provided through the issuance of convertible debentures by Entropy under its aggregate $500 million strategic investment agreements with Brookfield Asset Management and the Canada Growth Fund, with no capital to be contributed by Advantage. All debentures issued to finance the Acquisition will be obligations of Entropy Inc. and are non-recourse to Advantage. "We are excited to expand Entropy's footprint into Saskatchewan and strengthen our commitment to the carbon capture and sequestration business in Alberta," said Entropy CEO Sanjay Bishnoi. "This acquisition marks a significant step in our commercial growth. We are also excited to build relationships with new customers and advance existing infrastructure projects that will enable CO₂ to reach these newly acquired storage hubs." Entropy Operational Update Entropy continues its successful operations and scale-up of carbon capture and sequestration operations at the Glacier gas plant. With Phase 1a preparing to be incorporated into Phase 2 operations, Entropy continues to see consistent, strong carbon capture at Phase 1b (>90% capture and >98% run time) with heat of regeneration in the range of 2.5-2.9 GJ/Tonne CO 2 captured. Progress on the previously announced Glacier Phase 2 continues on time and, despite tariffs and inflation, within 10% of the budget set at the Final Investment Decision on July 9, 2024. Fabrication is underway on all long lead items, including the Solar T130 gas-fired turbine, with construction set to begin this summer. Entropy anticipates Glacier Phase 2 will reach commercial operations by Q2 2026. About Entropy Inc. Entropy is a privately-owned company applying sophisticated science and engineering to develop commercial CCS projects. Entropy entered a strategic $300 million investment agreement with Brookfield Asset Management in 2022. In 2023, Entropy entered a strategic investment with the Canada Growth Fund which includes a $200 million strategic investment and a Carbon Credit Offtake agreement for up to one million tpa of carbon credits for 15 years. These transactions have been undertaken to scale up the deployment of Entropy's CCS technology globally. Entropy's technology is expected to deliver commercial profitability with an industry-leading cost structure using proprietary modular carbon capture and storage technology. Entropy intends to deploy this technology in the global effort to reduce and eventually eliminate carbon emissions. Further information is available at All references in this press release are to Canadian dollars unless otherwise indicated. The information in this press release contains certain forward-looking statements, including within the meaning of applicable securities laws. These statements relate to future events or our future intentions or performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "continue", "demonstrate", "expect", "may", "call for", "can", "will", "believe", "would" and similar expressions and include statements relating to, among other things: the anticipated timing of completing the Acquisition; the anticipated method of funding the transaction; the anticipated benefits of the Acquisition; Entropy's ability to incorporate Glacier Phase 1a operations into Glacier Phase 2 and the anticipated benefits therefrom; the anticipated timing of construction and commercial operations of Glacier Phase 2; the benefits of the deployment of Entropy's technology, and other such similar statements. Entropy's actual decisions, activities, results, performance or achievement could differ materially from those expressed in, or implied by, such forward-looking statements and accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits that Entropy will derive from them. With respect to forward-looking statements contained in this press release, Entropy has made assumptions regarding, but not limited to: that Entropy will be able to satisfy the conditions precedent to complete the Acquisition, as expected; that the government will provide additional clarity on the federal investment tax credit and carbon price certainty; conditions in general economic and financial markets; effects of regulation by governmental agencies; current and future commodity prices and royalty regimes; future exchange rates; future royalty rates; future operating costs; availability of skilled labor; the impact of increasing competition; the anticipated amount of CO 2 captured, stored and offset; that Entropy will have sufficient financial resources required to fund their capital and operating expenditures and requirements as needed; that Entropy will have the ability to develop its technology in the manner currently contemplated; current or, where applicable, proposed assumed industry conditions, laws and regulations will continue in effect or as anticipated; and the anticipated benefits and results from Entropy's technology are accurate in all material respects. Readers are cautioned that the foregoing lists of factors are not exhaustive. These statements involve substantial known and unknown risks and uncertainties, certain of which are beyond Entropy's control, including, but not limited to: changes in general economic, market and business conditions; industry conditions; changes in tax laws and incentive programs; competition; the lack of availability of qualified personnel or management; intellectual property and patent risks; credit risk; changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced; ability to comply with current and future environmental or other laws; failure to achieve the anticipated benefits and results of Entropy's technology; failure to achieve the anticipated benefits of Entropy's relationships with third parties; and the ability to obtain required approvals of regulatory authorities. Entropy's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Entropy will derive therefrom. Readers are cautioned that the foregoing lists of factors are not exhaustive. These forward-looking statements are made as of the date of this news release and Entropy disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. T he following abbreviations and terms used in this press release have the meanings set forth below:
Reuters
12-06-2025
- Business
- Reuters
UK to invest 200 million pounds in Acorn carbon capture project in Scotland
LONDON, June 12 (Reuters) - Britain will invest 200 million pounds ($272 million) in the Acorn carbon capture and storage (CCS) project in Scotland, the government said on Thursday, fleshing out details of funding for the technology announced in a spending review on Wednesday. Britain has a climate target to reach net zero emissions by 2050 and has said CCS will be needed to curb emissions from energy-intensive industrial sectors. Acorn, being developed by Storegga, Shell UK (SHEL.L), opens new tab, Harbour Energy (HBR.L), opens new tab and North Sea Midstream Partners, in St Fergus, Scotland, will capture carbon dioxide emissions from industry and store them under the North Sea. "This vital support will enable the critical work needed to reach Final Investment Decision (FID) and marks a major step forward — not only for Acorn, but for the development of Scotland's CCS infrastructure and the growth of a UK-wide carbon capture and storage industry," Tim Stedman, CEO of Storegga, said in an emailed statement. The government said it would also back the Viking CCS project in the Humber region, in the north of England, without specifying how much it would receive. "This (funding) will support industrial renewal in Scotland and the Humber with thousands of highly-skilled jobs at good wages to build Britain's clean energy future," Britain's energy minister, Ed Miliband, said in a release from Britain's Department for Energy Security and Net Zero. Once operational, the two projects could capture up to 18 million tonnes of carbon dioxide a year, the government said. The funding is part of 9.4 billion pounds the government pledged to carbon capture technology over the spending review period and the 21.7 billion pounds it last year said would be spent on CCS over 25 years. ($1 = 0.7352 pounds)
