India will be hub of green hydrogen, our target is 5 million metric tons per annum by 2030: Pralhad Joshi in Davos

Davos [Switzerland], January 21 (ANI): Union Minister for New and Renewable Energy Pralhad Joshi has said that India's agenda at Davos is that transition is not a burden for growth, it is an engine for growth and noted how the renewable movement, started by Prime Minister Narendra Modi is bringing down the cost of electricity in India.
In an interview with ANI, the Minister also said India will be the hub of green hydrogen and that people want to study the Indian model of energy production.
"India's agenda at Davos is that transition is not a burden for growth, it is an engine for growth. And because of that, the cost of renewable energy has come down in India. Because of this renewable movement, which the Prime Minister started almost from 2015-16 and very aggressively from almost 2019, it is bringing down the entire cost of electricity in India. Now, Andhra Pradesh has said we are going to reduce the cost of electricity," he said.
"Devendra Fadnavis, the Chief Minister of Maharashtra, has announced that the tariff will come down... Now we're pitching for battery storage, pump storage, grid stability, green energy corridor, all these things put together in coming days, India can showcase itself that we are producing green energy, transition is also happening, growth is also taking place. Our growth is good, and our renewable energy is also growing well," he added.
Referring to Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Bill, passed by Parliament during the Winter Session, Joshi said the issues concerning private sector have been addressed.
"Nuclear bill, of course, it has already come into force. It has been notified... Whatever issues there are, as far as the private investors are concerned, all those have been addressed in a new bill which has been passed under the leadership of Prime Minister Narendra Modi. Further about green hydrogen, we are going as per our target," he said.
"For green ammonia, the world's lowest price has been discovered in India for the first time. I'm quite confident that, day by day, the prices of renewable energy have come down. In the same way, the green hydrogen price will also come down. India will be the hub. Our target is 5 million metric tons by 2030. There are many agreements happening... People want to study the Indian model," he added.
The Minister earlier talked about India's growth story and efforts towards resilient infrastructure.
"Today, everyone here wants to visit India's pavilion because it stands as the world's most attractive destination for investment... We are seeing a healthy competition among states for investment... When state infrastructure improves, the nation benefits... Under the leadership of Prime Minister Modi, we have moved from reform, perform, and transform to now adding 'inform'... From being fragile to becoming the world's fourth-largest economy, India has made tremendous strides.... India witnessed growth in renewable energy: solar capacity, which was once less than 3 gigawatts, now stands at 137 gigawatts," Joshi said.
"We are now planning for resilient infrastructure to absorb the shocks of renewable energy, ensuring proper forecasting, and managing the transition and transformation - issues India is actively addressing today... India's growth story is taking shape, but to truly showcase this, we need more than $350 billion for green energy and resilient infrastructure alone... Our non-performing assets (NPAs), which once were the highest in the world, now stand at a historic low of 2.1%. This reflects India's careful and effective management across all sectors," he added.
In his keynote remarks at the session 'Call to Action: Spotlight on the Global Mission on AI for Energy', the Minister highlighted how India has built 266.78 GW of Renewable Energy capacity through clear policies.
He shared India's journey in the energy transition and what it can offer the world--especially the Global South.
"Highlighted how India has built 266.78 GW of #RenewableEnergy capacity through clear policies, strong institutions, grid expansion and a robust domestic ecosystem, making this transition scalable and replicable for other countries. Underlined how AI can improve forecasting, reduce losses, lower costs and strengthen grid reliability and shared India's shift from pilots to platform-based deployment through Digital Public Infrastructure for Energy. Reaffirmed India's commitment to advancing the Global Mission on AI for Energy with partners, including the @isolaralliance, to enable an open, inclusive and scalable," he said in a post on X.
The minister also presented Country Strategy Dialogue on India at the Congress Centre at World Economic Forum in Davos, outlining India's clean energy transition as a driver of growth, competitiveness and social transformation under the leadership of PM Modi.
"Highlighted how India has decoupled economic growth from emissions, achieved 50% non-fossil installed power capacity five years ahead of its NDC targets and converted the energy transition into a people-centric movement through initiatives like@PMSuryaGhar and #PMKUSUM, empowering households and farmers while reducing energy costs. Emphasised India's scale and speed in execution, with solar tariffs declining by nearly 80%, #RenewableEnergy coupled with storage becoming cost-competitive, #GreenHydrogen and ammonia achieving globally competitive prices, and domestic manufacturing capacity expanding to 144 GW, positioning India not just as a market, but as a reliable manufacturing and investment hub on the journey towards Viksit Bharat," he said in another post on X. (ANI)