Agreements between India and Germany for “Clean Energy” worth 10.5 billion US dollars
1. December 2022India and Germany signed several agreements focused on sustainable development of the subcontinent, industry journal Upstream reports. India could receive about $10.5 billion in economic aid through 2030 as a result. The funds are to be used to promote so-called “clean energies” in particular. The agreements between the two countries were signed back in May during a visit by Indian Prime Minister Narendra Modi to Germany. Among other things, they include technical assistance, the increased use of renewable energies and hydrogen, and a reduction in greenhouse gases. Shortly after the signing, leading state-owned energy companies Indian Oil Corporation (IOC) and Bharat Petroleum Corporation (BPCL) unveiled ambitious plans to invest in renewable energy and hydrogen. Industry insiders expect benefits for the two companies from the agreement with Germany. Products from this sector, e.g. gas and pressure vessels, valves and fittings or safety equipment, in many cases require PESO certification to be approved for the Indian market.
The Indian government will now work out the further details, including participation of companies from the power generation and renewable energy sectors. In addition, the agreement envisages cooperation between the two countries at government level for sustainable development and climate change mitigation, India’s Ministry of External Affairs said. State-owned IOC and BPCL, as well as the private sector with Reliance Industries and the Adani Group, announced billions of dollars in investments for hydrogen and renewable energy.
BPCL earlier this year announced an ambitious plan to invest a total of $3.35 billion in a diversified portfolio of sustainable energy generation including solar, wind, small hydro and biomass. IOC last year pledged to build India’s first green hydrogen plant in the northern state of Uttar Pradesh. This will involve routing electricity generated by wind energy from Rajasthan to the refinery in Mathura, where hydrogen gas will be produced using electrolysis. Furthermore, major Indian engineering company Larsen & Toubro (L&T), IOC and major power company ReNew Power announced they have formed a joint venture to advance green hydrogen generation projects in the country. IOC and L&T also signed a separate agreement to jointly manufacture and distribute green hydrogen electrolysis equipment.
With the planned expansion of renewable energy, the demand for imported power generation products is also expected to increase. Therefore, the Indian energy sector offers good opportunities for your company to provide services and products there or to produce locally. However, most equipment, plants and facilities have to pass a mandatory PESO certification. Relevant product groups or components are for example gas and pressure vessels, valves and fittings or safety equipment. A complete list can be found under this link. The experts at MPR International GmbH are available to answer your questions about PESO certification or other India certifications without obligation for an initial assessment.
The Indian oil and gas industry is growing and offers good opportunities for your company to provide services and products there or to produce locally. However, most equipment, plants and facilities must undergo mandatory PESO certification. This is issued by the Petroleum and Explosives Safety Organisation of India. A complete list of relevant products can be found on the page about PESO certification mandatory products. The experts at MPR International GmbH are available to answer your questions about PESO certification or other India certifications without obligation for an initial assessment.
If you are interested in understanding what requirements are needed for your product to be imported into India, please do not hesitate to contact us by email or phone (Europe: +49-69-271 37 69 261, US: +1 773 654-2673). There is no cost or obligation for us to check for you. If a certification need is discovered we can provide a quotation to make sure that all your certification needs are covered.
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For more information about PESO certification, please refer to our free brochure “PESO Certification Made Easy“.
