30 Sep 2024
As green hydrogen becomes a buzzword in renewable energy, companies such as Avaada Group, Heikenco Green Energies, and Thermax are working on reducing its cost to make it more affordable. Moreover, Reliance Industries (RIL) and Adani Group have already announced plans to make green hydrogen affordable.
While green hydrogen currently costs around $4-5 (Rs 334-418) per kg—almost double the price of grey hydrogen—several companies are working on bringing it down to $1-2 (Rs 83-166) with new technologies, innovative products, and more. According to experts, as the country has set an ambitious target of producing 5 million tonnes of green hydrogen by 2030, it is important to reduce the production cost.
Avaada is integrating artificial intelligence (AI) and advanced analytics into its operations. "AI helps us optimise energy production and consumption patterns, predict maintenance needs, and increase the overall efficiency of our renewable assets. This technological edge allows us to reduce costs and improve reliability," said Chairman Vineet Mittal.
The specialized electrolyzer team is committed to enhancing stack energy efficiency. By advancing electrolyser technology and increasing efficiency, it reduces the amount of electricity needed to produce hydrogen, which directly reduces production costs, Mittal said. Avaada is also exploring opportunities in advanced fuel cell technologies and hydrogen storage solutions.
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