Page 45 - Policy Economic Report - June 2024

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Shri Pralhad Joshi assumes charge of Ministry of New and Renewable Energy

Shri Pralhad Joshi took charge as Union Minister of New and Renewable Energy in addition to his portfolio
of Minister of Consumer Affairs, Food and Public Distribution, at Atal Akshaya Urja Bhawan. Shri Shripad
Yesso Naik also assumed charge as the Minister of State in the Ministry of New and Renewable Energy.

Secretary, Ministry of New and Renewable Energy, Shri Bhupinder Singh Bhalla, along with senior officials
of the ministry welcomed the ministers.

Speaking to the media, the Union Minister Shri Pralhad Joshi emphasized the critical importance of the
renewable energy sector for ensuring India’s energy security and outlined the vast potential for growth in
this field. He also underscored the government’s commitment in advancing renewable energy initiatives
to meet the country’s rising energy demands and environmental goals.

The Union Minister was later briefed by senior officials of the Ministry of New and Renewable Energy and
took a meeting with them.

Solar Energy Corporation of India issues RfS for selection of Green Ammonia Producers under SIGHT
Programme of the National Green Hydrogen Mission (NGHM)

India has taken a crucial step towards demand creation of Green Hydrogen and its derivatives in the
country. Solar Energy Corporation of India (SECI) has issued Request for Selection (RfS) for Selection of
Green Ammonia Producers for the production of Green Ammonia in India through cost based competitive
bidding under Mode 2A of Strategic Interventions for Green Hydrogen Transition (SIGHT) Programme of
the National Green Hydrogen Mission being implemented by the Ministry of New & Renewable Energy
(MNRE).

Big boost to green ammonia production

The bidding for a total available capacity of 5.39 lakh Metric Tonnes (MT)/annum of Green Ammonia
intended for production and supply will be carried out through e-bidding followed by e-Reverse Auction
process. Green Ammonia produced will be supplied to the fertilizer companies.

Strategic Interventions for Green Hydrogen Transition (SIGHT)

MNRE had earlier issued the Scheme Guidelines for implementation of SIGHT Programme – Component
II: Incentive for Procurement of Green Ammonia Production (under Mode2A) of the NGHM. SECI has been
appointed as implementing agency for this Scheme.

Under the SIGHT Programme, MNRE has already allocated 4.12 lakh Metric Tonnes (MT)/annum of Green
Hydrogen production capacity and 1.5 GW/ annum of Electrolyzer manufacturing capacity.

National Green Hydrogen Mission

The National Green Hydrogen Mission was launched on 4th January 2023 with an outlay of Rs. 19,744
crores up to FY 2029-30. It will contribute to India’s goal to become Aatmanirbhar (self-reliant) through

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