Gujarat Prepares for 10th Vibrant Gujarat Global Summit with Green Hydrogen Focus

Gandhinagar, November 29: The Gujarat government is gearing up for the tenth edition of the Vibrant Gujarat Global Summit (VGGS) in January 2024, with a strong focus on promoting green hydrogen production and attracting investments in the renewable energy sector. The state has already conducted six international and eight national-level roadshows and delegation visits, connecting with over 1,000 companies through one-on-one meetings, roundtable conferences, and seminars.

Key Highlights:

• Indian companies Welspun and Kiri Industries have signed MoUs with Lilly Navitas (Germany) and Sundronics (Germany) to facilitate the export of green hydrogen and green ammonia from Gujarat to Europe.

• Recognizing the potential of green fuel for shipping, Shakti Group has signed an MoU for an investment of Rs 1,000 crore for the production of green methanol and green ethanol in Gujarat.

• The Gujarat government has announced a land allotment policy offering incentives for green hydrogen projects. Companies must achieve 50% of plant production capacity within five years and 100% within eight years.

• Gujarat has held meetings with leading global companies from France, Japan, South Korea, Australia, and Singapore, as well as national energy and green hydrogen companies from Mumbai, New Delhi, Kolkata, and Chandigarh.

• Companies have expressed interest in investing in various sub-sectors, including alternative fuel production, gas/technology-related infrastructure solutions, lithium-ion battery manufacturing, solar PV modules manufacturing, decarbonization initiatives, and green hydrogen production.

• Danish maritime companies have also expressed interest in purchasing green methanol and green ethanol from Gujarat ports.

Gujarat's Position in the Renewable Energy Sector:

• Gujarat currently contributes 15% of the country's renewable energy capacity, making it one of the fastest-growing renewable energy-producing regions.

• The Gujarat government has recently launched the Renewable Energy Policy 2023, aiming to achieve 50% of its energy needs from renewable sources by 2030.

• This aligns with India's ambitious target of reducing carbon emissions by 45% by 2030.

The investor-friendly policies, MoUs signed, and investments attracted in the lead-up to VGGS 2024 are paving the way for Gujarat to become the Global Green Hydrogen Capital. The state's focus on renewable energy and its commitment to sustainable development are positioning it as a key player in the global transition to a greener future.