According to Janiana Mencomo, the foreign minister of Panama, India, and Panama are discussing possible cooperation in the development of green hydrogen and other renewable technology.
The foreign minister of Panama told that the two nations will work together to produce green hydrogen as a substitute fuel for shipping. With India’s assistance, Panama aspires to develop into a major hub for hydrogen and environmentally friendly shipping.
The vital Panama Canal is located in Panama, which serves as a major shipping route throughout the world. 13,000 ships pass through the Panama Canal each year.
The nation of Central America has ambitious aspirations for green hydrogen. The “Green Hydrogen Roadmap,” which recognizes hydrogen as the future’s fuel and seeks to establish Panama as the world’s “Global Green Hydrogen Route,” was published by Panama’s National Energy Secretariat in January of last year.
“Panama intends to develop into a hydrogen hub. Recently, it has come to our attention that about 29% of the ships transiting the Panama Canal are powered by diesel. Our interest is to participate in the transition to green energy, “Minister Mencomo remarked.
The intentions of India to develop and become a hub for hydrogen have caught Panama’s interest. “Prime Minister Modi’s cabinet authorized a package to turn India into a hub for hydrogen, which I learned about before traveling to India. There are therefore opportunities to combine our efforts and shared interests. We are capable of more than what we are now doing.”
The Nation Green Hydrogen Mission, which aims to produce 5 million tonnes of green hydrogen annually by 2030, was approved last week by India’s union cabinet for a total of 19,744 crores. By 2030, the central government projects that the mission will bring in investments totaling 8 trillion.
India also intends to power ships using renewable energy. The Center is looking at strategies to power ships entirely with renewable energy, which may use a hybrid energy model that combines solar, seawater, wind, and hydrogen.
Given that 70% and 95%, respectively, of India’s trade, is carried out via sea transportation, this might potentially shift the game.
India would also conduct pilot projects for the use of green hydrogen in shipping, road transport, and the production of green steel under the green hydrogen mission. According to the objective, two ships would be converted to run on green hydrogen by 2027, and the country would also set up the necessary supply chain, port infrastructure, green ammonia bunkers, and refueling facilities.
India has previously participated in international collaboration for green hydrogen. India has launched initiatives with nations and organizations. India and France adopted the “Indo-French Roadmap on the Development of Green Hydrogen” in October of last year.
The first EU-India Green Hydrogen Forum was launched in September by Kadri Simson, the European Commissioner for Energy, and R.K. Singh, the Indian Minister of Power and New and Renewable Energy.