India and Germany have signed a joint declaration of intent on the Indo-German Green Hydrogen Task Force.

The Ministry of New and Renewable Energy revealed that the joint proclamation was signed virtually by R K Singh Union Minister for Power and New and Renewable Energy and German Minister for Economic Affairs and Climate Change Robert Habeck.

R K Singh told the media that India has emerged as a worldwide leader in energy transition with the world's highest pace of expansion in renewable energy capacity.

He said India has a clear bidding procedure an open market and a quick dispute resolution system and is widely regarded as one of the most attractive renewable energy investment locations (RE).

India has big objectives in terms of energy transformation according to Singh. By 2030 it will have added 500 GW of non-fossil fuel capacity. Bids for green hydrogen are also being submitted by India.

The minister also emphasised the importance of developing storage options for balancing renewable energy such as pumped hydro and battery storage. It will also necessitate large-scale electrolyser production for green hydrogen.

He asked German companies to compete in the development of this ecosystem in India.

According to the media sources the German Minister praised India's ambitious goals for renewable energy growth and showed interest in investment potential in offshore wind farms citing German competence in the field.

Both countries established an Indo-German Green Hydrogen Task Force under the agreement which was signed to strengthen cooperation in the production use storage and distribution of green hydrogen by creating enabling frameworks for projects regulations and standards trade and joint research and development (R&D) projects.

The National Green Hydrogen Mission was created in India to make the country a global centre for green hydrogen production and export.

Germany has also devised a bold National Hydrogen Strategy to become a global leader in hydrogen technology.

India can create low-cost green hydrogen to gradually decarbonise a range of industry sectors as well as export it to fulfil global demand thanks to its rich renewable energy potential and expertise in executing renewable energy projects.

Both countries are dedicated to establishing a national green hydrogen economy. The long-term objective is to minimise emissions while protecting the ecosystem.