IIT-B, HSBC join hands for green hydrogen research | Mumbai news - Hindustan Times
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IIT-B, HSBC join hands for green hydrogen research

Aug 26, 2023 12:47 AM IST

IIT-Bombay has partnered with HSBC to advance green hydrogen production. The collaboration aims to improve efficiency, cost-effectiveness, and scalability of green hydrogen, positioning it as a strategic alternative fuel. India aims to develop a green hydrogen production capacity of 5 million metric tonnes per year by 2030.

Mumbai: The Indian Institute of Technology-Bombay (IIT-B) has collaborated with Hong Kong and Shanghai Banking Corporation (HSBC) to spearhead advancements in green hydrogen production. The partnership aims to revolutionise efficiency, cost-effectiveness, and scalability of green hydrogen, positioning it as a strategic alternative fuel.

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“Transitioning to sustainable and clean energy sources is pivotal in the global battle against climate change. Green hydrogen, with its cross-industry applications, including transportation, will play a crucial role in the global energy landscape. I am confident that this collaboration will expedite research in this sphere and facilitate India’s widespread adoption of green hydrogen,” IIT-B director professor Subhasis Chaudhuri said.

Hitendra Dave, chief executive officer, HSBC India, emphasised the strategic importance of the initiative for sustainability and innovation, and said, “Sustainability is woven into our business, operations, and community investments. Our collaboration with IIT-B aims to foster innovation that enhances the scalability and commercial feasibility of green hydrogen production. We see our role as pivotal in expediting the development and deployment of green hydrogen technologies, propelling the transition to a sustainable, low-carbon energy system.”

According to the National Green Hydrogen Mission, India envisions developing a green hydrogen production capacity of at least 5 million metric tonnes per year by 2030. This ambitious goal is set to bolster the country’s renewable energy capacity by approximately 125 GW, contributing significantly to the reduction of carbon dioxide emissions and the realisation of India’s net-zero vision.

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