The transition in direction of inexperienced metal has grow to be one of many main subjects within the metal trade. This whitepaper “Position of Inexperienced Hydrogen in Indian Metal Sector” has been ready by Ernst & Younger (EY)-Parthenon in collaboration with WWF-India.
Evaluation within the whitepaper reveals, underneath India’s 2070 web zero state of affairs, the inexperienced H2-DRI and electrical arc furnace (EAF) route is predicted to contribute 13% of the projected 403 MMTPA crude metal output by FY50, rising to 41% of 597 MMTPA by FY70. Inexperienced hydrogen demand within the metal sector is predicted to develop at a 13% CAGR, reaching 15.15 MMTPA by FY70. Within the accelerated net-zero 2050 state of affairs, H2-DRI steelmaking route shall contribute to 39% of the crude metal manufacturing with inexperienced hydrogen demand of 9.82 MMTPA by FY50.
Evaluation reveals, to realize a 245 MMTPA H2-DRI capability by 2070, investments of US$297-US$304 billion are wanted. Whereas preliminary prices for H2-DRI vegetation are larger than these for BF-BOF setups, falling inexperienced hydrogen prices-projected to drop from US$7/kg in 2024 to US$1.8/kg by 2040—and rising international carbon costs are anticipated to enhance the associated fee competitiveness of H2-DRI by 2035.
The manufacturing prices of steelmaking through the inexperienced hydrogen DRI-EAF route, by which a 90% discount in emissions might be achieved, are anticipated to lower from US$600/ton in 2024 to US$421/ ton by 2040, making this a viable and sustainable different to conventional steelmaking.
The paper concludes that India’s dedication to inexperienced hydrogen presents a transformative alternative to decarbonize its metal sector, a serious emitter of world CO2 emissions. Addressing financial, technological, and logistical challenges
by way of strategic interventions will allow India to steer the worldwide transition to sustainable metal manufacturing. This effort helps broader targets of commercial innovation, vitality safety, and local weather motion, making certain long-term competitiveness and environmental sustainability.
Entry the paper right here
