Govt, industry need to ensure regulations don't hamper investment: Power Secy

The government and industry must work together to ensure existing regulations are not unnecessary barriers to investment, Union Power Secretary Alok Kumar said on Tuesday. Government and industry must work together to ensure existing regulations are not an unnecessary barrier to investment, Kumar was quoted as saying in a statement by NTPC.

The government and industry must work together to ensure existing regulations are not unnecessary barriers to investment, Union Power Secretary Alok Kumar said on Tuesday. He was speaking at a virtual two-day BRICS Green Hydrogen Summit, anchored by state-run power giant NTPC. ''Government and industry must work together to ensure existing regulations are not an unnecessary barrier to investment,'' Kumar was quoted as saying in a statement by NTPC. He was of the view that trade will benefit from common international standards for safely transporting and storing large volumes of hydrogen and having appropriate certificate of origin. BRICS countries could work together on these aspects, he added. ''India has launched an ambitious National Hydrogen Mission to introduce hydrogen purchase obligations for fertilizers, refineries involving private sector in transparent & competitive manner to produce green hydrogen,'' Kumar noted. Green hydrogen is of great topical interest to all the countries, including BRICS nations, as it has great potential to ensure sustainable energy supply, increase the level of energy availability and minimise the negative impact on the environment. NTPC CMD Gurdeep Singh said, ''Five BRICS countries share a common vision of sustainable development and inclusive economic growth. Strengthening energy cooperation and ensuring affordable, reliable, accessible and secure energy for all, has always been a strategic area of importance in the agenda of BRICS countries.'' He opined that for India, the transition to a hydrogen economy will not only reduce its import dependency on hydrocarbon fuels but also provide clean air to its citizens, reduce GHG (green house gases) emissions in absolute terms and fulfil the country's 'Atmanirbhar Bharat' vision. The online event saw leading experts from Brazil, Russia, India, China and South Africa (BRICS) share their insights on the subject as well as the latest developments going on in their countries in the area of green hydrogen. The keynote speakers were Agnes M da Costa (Ministry of Mines & Energy, Brazil), Kovalev Andrey (Russian Energy Agency, Russia), Prakash Chandra Maithani, (Scientist, MNRE, Government of India), Fu Tianyi (National Energy Administration of China) and Makgabo H Tsiri (International Relations, National Department of Energy, South Africa). These BRICS countries are capable of ensuring that there is net-zero carbon emission since the cost of deployment of these emerging technologies in these countries is a fraction in comparison to that of other developed nations, the statement said. NTPC is pioneering green hydrogen Initiatives in India, it added.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)